EX-25.1 8 d173043dex251.htm EX-25.1 EX-25.1

Exhibit 25.1

 

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

 

 

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939

OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

☐

CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

 

 

REGIONS BANK

(Exact name of trustee as specified in its charter)

 

 

 

Alabama   63-0371391

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

  

(I.R.S. Employer

Identification No.)

1900 Fifth Avenue North Birmingham, Alabama   35203
(Address of principal executive offices)   (Zip code)

Doug Milner

Senior Vice President

Regions Bank

Corporate Trust

3773 Richmond Avenue, Suite 1100

Houston, Texas 77046

Phone: (713) 244-8041

(Name, address and telephone number of agent for service)

 

 

Genesis Energy, L.P.

Genesis Energy Finance Corporation

(and the subsidiaries identified below in the Table of Subsidiary Guarantor Registrants)

(Exact name of obligor as specified in its charter)

 

 

 

Delaware   76-0513049
Delaware   20-5948137

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. Employer

Identification No.)

919 Milam, Suite 2100

Houston, Texas 77002

(713) 860-2500

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

 

 

Senior Debt Securities

Subordinate Debt Securities

 

 

 

TABLE OF SUBSIDIARY GUARANTOR REGISTRANTS

 

Exact Name of Registrant as Specified in its Charter*   

State or Other

Jurisdiction of

Incorporation or

Organization

   

I.R.S. Employer

Identification No.

AP Marine, LLC

    Delaware    76-0513049

BR Port Services, LLC

    Delaware    76-0513049

Cameron Highway Oil Pipeline Company, LLC

    Delaware    76-0513049

Cameron Highway Pipeline GP, L.L.C.

    Delaware    76-0513049

Cameron Highway Pipeline I, L.P.

    Delaware    76-0513049

Casper Express Pipeline, LLC

    Delaware    76-0513049

Davison Petroleum Supply, LLC

    Delaware    76-0513049

Davison Transportation Services, Inc.

    Delaware    26-0614522

Davison Transportation Services, LLC

    Delaware    76-0513049

Deepwater Gateway, L.L.C.

    Delaware    76-0513049

Flextrend Development Company, L.L.C.

    Delaware    76-0513049

GEL CHOPS GP, LLC

    Delaware    76-0513049

GEL CHOPS I, L.P.

    Delaware    76-0513049

GEL CHOPS II, L.P.

    Delaware    76-0513049

GEL Deepwater, LLC

    Delaware    76-0513049

GEL IHUB, LLC

    Delaware    76-0513049

GEL Louisiana Fuels, LLC

    Delaware    76-0513049

GEL Odyssey, LLC

    Delaware    76-0513049

GEL Offshore Pipeline, LLC

    Delaware    76-0513049

GEL Offshore, LLC

    Delaware    76-0513049

GEL Paloma, LLC

    Delaware    76-0513049

GEL Pipeline Offshore, LLC

    Delaware    76-0513049

GEL Poseidon, LLC

    Delaware    76-0513049

GEL Sekco, LLC

    Delaware    76-0513049

GEL Tex Marketing, LLC

    Delaware    76-0513049

GEL Texas Pipeline, LLC

    Delaware    76-0513049

GEL Wyoming, LLC

    Delaware    76-0513049

Genesis BR, LLC

    Delaware    76-0513049

Genesis CHOPS I, LLC

    Delaware    76-0513049

Genesis CHOPS II, LLC

    Delaware    76-0513049

Genesis Crude Oil, L.P.

    Delaware    76-0513049

Genesis Davison, LLC

    Delaware    76-0513049

Genesis Deepwater Holdings, LLC

    Delaware    76-0513049

Genesis Energy, LLC

    Delaware    76-0513049

Genesis Free State Holdings, LLC

    Delaware    76-0513049

Genesis GTM Offshore Operating Company, LLC

    Delaware    76-0513049

Genesis IHUB Holdings, LLC

    Delaware    76-0513049

Genesis Marine, LLC

    Delaware    76-0513049

Genesis NEJD Holdings, LLC

    Delaware    76-0513049

Genesis Odyssey, LLC

    Delaware    76-0513049

Genesis Offshore, LLC

    Delaware    76-0513049

Genesis Offshore Holdings, LLC

    Delaware    76-0513049

Genesis Pipeline Alabama, LLC

    Alabama    76-0513049

Genesis Pipeline Texas, L.P.

    Delaware    76-0513049

Genesis Pipeline USA, L.P.

    Delaware    76-0513049

Genesis Poseidon, LLC

    Delaware    76-0513049

Genesis Poseidon Holdings, LLC

    Delaware    76-0513049

Genesis Rail Services, LLC

    Delaware    76-0513049

Genesis Sailfish Holdings, LLC

    Delaware    76-0513049

Genesis Sekco, LLC

    Delaware    76-0513049

Genesis SMR Holdings, LLC

    Delaware    76-0513049

Genesis Syngas Investments, L.P.

    Delaware    76-0513049

Genesis Texas City Terminal, LLC

    Delaware    76-0513049

High Island Offshore System, L.L.C.

    Delaware    76-0513049

Manta Ray Gathering Company, L.L.C.

    Texas    76-0513049

Matagorda Offshore, LLC

    Texas    76-0513049

Milam Services, Inc.

    Delaware    36-4704817

Poseidon Pipeline Company, L.L.C.

    Delaware    76-0513049

Red River Terminals, L.L.C.

    Louisiana    76-0513049

Sailfish Pipeline Company, L.L.C.

    Delaware    76-0513049

Seahawk Shoreline System, LLC

    Texas    76-0513049

Southeast Keathley Canyon Pipeline Company, L.L.C.

    Delaware    76-0513049

TDC Services, LLC

    Delaware    26-0614359

TDC, L.L.C.

    Louisiana    76-0513049

Texas City Crude Oil Terminal, LLC

    Delaware    76-0513049

Thunder Basin Holdings, LLC

    Delaware    76-0513049

 

*

The address for each registrant’s principal executive office is 919 Milam, Suite 2100 Houston, Texas 77002 and the telephone number for each registrant’s principal executive office is (713) 860-2500.

Item 1.

General Information. Furnish the following information as to the trustee:

 

  (a)

Name and address of each examining or supervising authority to which it is subject.

Federal Reserve Bank of Atlanta, 1000 Peachtree Street NE, Atlanta, Georgia 30309

Alabama State Banking Department, 401 Adams Ave., Montgomery, Alabama 36104

 

  (b)

Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

 

Item 2.

Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

 

Item 15.

Foreign Trustee. Not applicable.

 

Item 16.

List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.    Articles of Amendment to Articles of Incorporation, including Restated Articles of Incorporation of the Trustee (incorporated by reference to Exhibit 1 to the Trustee’s Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 (File No. 333-223626) filed with the Securities and Exchange Commission).
Exhibit 2.    Not applicable
Exhibit 3.    Authorization of the Trustee to exercise corporate trust powers (incorporated by reference to Exhibit 3 to the Trustee’s Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-3 (File No. 333-202769) filed with the Securities and Exchange Commission).
Exhibit 4.    A copy of the bylaws of the trustee as now in effect (incorporated by reference to Exhibit 4 to the Trustee’s Form T-1 filed as Exhibit 25.1 to the Registration Statement on Form S-4 (File No. 333-227903) filed with the Securities and Exchange Commission).
Exhibit 5.    Not applicable.
Exhibit 6.    The consent of the trustee required by Section 321(b) of the Act.
Exhibit 7.    A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.    Not applicable.
Exhibit 9.    Not applicable.

SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Regions Bank, a state-chartered bank organized under the laws of the state of Alabama, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Baton Rouge and the State of Texas on the 19th day of April 2021.

 

REGIONS BANK

/s/ Doug Milner

Doug Milner
Senior Vice President

EXHIBIT 6

April 19, 2021

Securities and Exchange Commission

Washington, D.C. 20549

Ladies and Gentlemen

In accordance with Section 321(b) of the Trust Indenture Act of 1939, Regions Bank hereby consents that reports of examination of Regions Bank by Federal, State, Territorial or District regulatory authorities may be furnished by such regulatory authorities to the Securities and Exchange Commission upon request therefor.

Dated: April 19, 2021

 

Very truly yours,
REGIONS BANK

/s/ Doug Milner

Doug Milner
Senior Vice President

Exhibit 7

REGIONS BANK

Consolidated Report of Condition of

Regions Bank

As of the close of business on December 31, 2020

 

Regions Bank

       FFIEC 031
Legal Title of Bank       Page 17 of 91

Birmingham

       RC-1
City      

AL                                                          35203

      
State                                                       Zip Code      
FDIC Certificate Number: 12368      

Consolidated Report of Condition for Insured Banks and Savings Associations for December 31, 2020

All schedules are to be reported in thousands of dollars. Unless otherwise indicated, report the amount outstanding as of the last business day of the quarter.

Schedule RC—Balance Sheet

 

Dollar Amounts in Thousands                  RCFD      Amount         

Assets

             

1. Cash and balances due from depository institutions (from Schedule RC-A):

             

a. Noninterest-bearing balances and currency and coin (1)

          0081        1,702,000        1.a  

b. Interest-bearing balances (2)

          0071        16,335,000        1.b  

2. Securities:

             

a. Held-to-maturity securities (from Schedule RC-B, column A)(3)

          JJ34        1,122,000        2.a  

b. Available-for-sale debt securities (from Schedule RC-B, column D)

          1773        27,132,000        2.b  

c. Equity securities with readily determinable fair values not held for trading (4)

          JA22        282,000        2.c  

3. Federal funds sold and securities purchased under agreements to resell:

          RCON        

a. Federal funds sold in domestic offices

          B987        0        3.a  
         RCFD        

b. Securities purchased under agreements to resell (5,6)

          B989        0        3.b  

4. Loans and lease financing receivables (from Schedule RC-C):

             

a. Loans and leases held for sale

          5369        1,898,000        4.a  

b. Loans and leases held for investment

     B528       85,266,000              4.b  

c. LESS: Allowance for loan and lease losses(7)

     3123       2,167,000              4.c  

d. Loans and leases held for investment, net of allowance (item 4.b minus 4.c)

          B529        83,099,000        4.d  

5. Trading assets (from Schedule RC-D)

          3545        854,000        5  

6. Premises and fixed assets (including capitalized leases)

          2145        2,373,000        6  

7. Other real estate owned (from Schedule RC-M)

          2150        31,000        7  

8. Investments in unconsolidated subsidiaries and associated companies

          2130        97,000        8  

9. Direct and indirect investments in real estate ventures

          3656        0        9  

10. Intangible assets (from Schedule RC-M)

          2143        5,117,000        10  

11. Other assets (from Schedule RC-F)(6)

          2160        6,434,000        11  

12. Total assets (sum of items 1 through 11)

          2170        146,476,000        12  

 

 

(1)

Includes cash items in process of collection and unposted debits.

(2)

Includes time certificates of deposit not held for trading.

(3)

Institutions that have adopted ASU 2016-13 should report in item 2.a amounts net of any applicable allowance for credit losses, and item 2.a should equal Schedule RC-B, item 8, column A, less Schedule RI-B, Part II, item 7, column B.

(4)

Item 2.c is to be completed by all institutions. See the instructions for this item and the Glossary entry for “Securities Activities” for further detail on accounting for investments in equity securities.

(5)

Includes all securities resale agreements, regardless of maturity.

(6)

Institutions that have adopted ASU 2016-13 should report in items 3.b and 11 amounts net of any applicable allowance for credit losses.

(7)

Institutions that have adopted ASU 2016-13 should report in item 4.c the allowance for credit losses on loans and leases.

Regions Bank                                                                 FFIEC 031
Legal Title of Bank    Page 18 of 91
FDIC Certificate Number: 12368    RC-2

Schedule RC—Continued

 

Dollar Amounts in Thousands                  RCON      Amount         

Liabilities

               

13. Deposits:

               

a. In domestic offices (sum of totals of columns A and C from Schedule RC-E, Part I)

            2200        124,229,000        13.a  

(1) Noninterest-bearing (1)

      6631        53,014,000              13.a.1  

(2) Interest-bearing

      6636        71,215,000              13.a.2  

b. In foreign offices, Edge and Agreement subsidiaries, and IBFs

            RCFN        

(from Schedule RC-E, Part II)

            2200        0        13.b  

(1) Noninterest-bearing

      6631        0              13.b.1  

(2) Interest-bearing

      6636        0              13.b.2  

14. Federal funds purchased and securities sold under agreements to repurchase:

            RCON        

a. Federal funds purchased in domestic offices (2)

            B993        0        14.a  
           RCFD        

b. Securities sold under agreements to repurchase (3)

            B995        0        14.b  

15. Trading liabilities (from Schedule RC-D)

            3548        23,000        15  

16. Other borrowed money (includes mortgage indebtedness)(from Schedule RC-M)

            3190        356,000        16  

17. and 18. Not applicable

            RCFD        

19. Subordinated notes and debentures (4)

            3200        496,000        19  

20. Other liabilities (from Schedule RC-G)

            2930        3,018,000        20  

21. Total liabilities (sum of items 13 through 20)

            2948        128,122,000        21  

22. Not applicable

               

Equity Capital

               

Bank Equity Capital

               

23. Perpetual preferred stock and related surplus

            3838        0        23  

24. Common stock

            3230        0        24  

25. Surplus (exclude all surplus related to preferred stock)

            3839        16,399,000        25  

26. a. Retained earnings

            3632        640,000        26.a  

b. Accumulated other comprehensive income (5)

            B530        1,315,000        26.b  

c. Other equity capital components (6)

            A130        0        26.c  

27. a. Total bank equity capital (sum of items 23 through 26.c)

            3210        18,354,000        27.a  

b. Noncontrolling (minority) interests in consolidated subsidiaries

            3000        0        27.b  

28. Total equity capital (sum of items 27.a and 27.b)

            G105        18,354,000        28  

29. Total liabilities and equity capital (sum of items 21 and 28)

            3300        146,476,000        29  

 

(1)

Includes noninterest-bearing demand, time, and savings deposits.

(2)

Report overnight Federal Home Loan Bank advances in Schedule RC, item 16, “Other borrowed money.”

(3)

Includes all securities repurchase agreements, regardless of maturity.

(4)

Includes limited-life preferred stock and related surplus.

(5)

Includes, but is not limited to, net unrealized holding gains (losses) on available-for-sale securities, accumulated net gains (losses) on cash flow hedges, cumulative foreign currency translation adjustments, and accumulated defined benefit pension and other postretirement plan adjustments.

(6)

Includes treasury stock and unearned Employee Stock Ownership Plan shares.

Regions Bank                                                                 FFIEC 031
Legal Title of Bank    Page 19 of 91
FDIC Certificate Number: 12368    RC-3

Schedule RC—Continued

Memoranda

To be reported with the March Report of Condition.

 

1.  Indicate in the box at the right the number of the statement below that best describes the most comprehensive level of auditing work performed for the bank by independent external auditors as of any date during 2019

   RCFD   Number  
  6724   N/A   M.1
     

1a =  An integrated audit of the reporting institution’s financial statements and its internal control over financial reporting conducted in accordance with the standards of the American Institute of Certified Public Accountants (AICPA) or Public Company Accounting Oversight Board (PCAOB) by an independent public accountant that submits a report on the institution

1b =  An audit of the reporting institution’s financial statements only conducted in accordance with the auditing standards of the AICPA or the PCAOB by an independent public accountant that submits a report on the institution.

2a =  An integrated audit of the reporting institution’s parent holding company’s consolidated financial statements and its internal control over financial reporting conducted in accordance with the standards of the AICPA or the PCAOB by an independent public accountant that submits a report on the consolidated holding company (but not on the institution separately).

2b =  An audit of the reporting institution’s parent holding company’s consolidated financial statements only conducted in accordance with the auditing standards of the AICPA or the PCAOB by an independent public accountant that submits a report on the consolidated holding company (but not on the institution separately)

3 =  This number is not to be used.

4 =  Directors’ examination of the bank conducted in accordance with generally accepted auditing standards by a certified public accounting firm (may be required by state chartering authority)

5 =  Directors’ examination of the bank performed by other external auditors (may be required by state chartering authority)

6 =  Review of the bank’s financial statements by external auditors

7 =  Compilation of the bank’s financial statements by external auditors

8 =  Other audit procedures (excluding tax preparation work)

9 =  No external audit work

 

 

To be reported with the March Report of Condition.    RCON    MMDD   
2. Bank’s fiscal year-end date(report the date in MMDD format)    8678    N/A    M.2