---
schema_version: "secwatch.filing_event.v1"
accession: "0000884614-22-000067"
form_type: "8-K"
ticker: "UGI"
cik: "0000884614"
company_name: "UGI CORP /PA/"
filed_at: "2022-12-16T23:59:59+00:00"
generated_at: "2026-06-21T03:50:10.793315+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# UGI Utilities boosts revolver by $75M to $425M, replaces LIBOR with Term SOFR

## Summary
- UGI Utilities increased revolving credit commitments by $75M to $425M on Dec 13, 2022.
- Term SOFR replaced LIBOR as reference rate; credit spread adjustment of 0.10% added.
- Interest rate options remain unchanged: base rate plus margin (0.0%-0.75%) or Term SOFR plus margin (0.875%-1.75%).
- Amendment includes transitional arrangements for outstanding loans and letters of credit.
- No default existed before or after amendment; representations and warranties reaffirmed.

## SEC filing metadata
- accession: 0000884614-22-000067
- form_type: 8-K
- ticker: UGI
- cik: 0000884614
- company_name: UGI CORP /PA/
- filed_at: 2022-12-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884614/000088461422000067/0000884614-22-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884614/000088461422000067/ugi-20221213.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000884614-22-000067
- JSON: https://secwatch.observer/filing/0000884614-22-000067.json
- Plain text: https://secwatch.observer/filing/0000884614-22-000067.txt

## Key facts
- Debt Financings
  UGI CORP /PA/ amended revolving credit of $425,000,000 with PNC Bank, National Association at Term SOFR plus the applicable margin plus a credit spread adjustment of 0.10% or.
  - Instrument: revolving credit
  - Principal: $425,000,000
  - Counterparty: PNC Bank, National Association
  - Rate: Term SOFR plus the applicable margin plus a credit spread adjustment of 0.10% or
  - Event: amendment
  source text: On December 13, 2022, UGI Utilities, Inc. (“UGI Utilities”), a wholly owned subsidiary of UGI Corporation (the “Company”), entered into that certain First Amendment to Credit Agreement (the “Amendment”), by and among PNC Bank, National Association, as administrative agent, UGI Utilities and certain lenders party thereto, which amended UGI Utilities’ Credit Agreement, dated as of June 27, 2019 (as amended, the “Revolving Credit Agreement”). The Amendment provides, among other items, that: (i) the commitments under the Revolving Credit Agreement are increased by $75,000,000, for an aggregate of $425,000,000 in commitments thereunder, (ii) Term SOFR (as defined in the Revolving Credit Agreement) shall replace LIBOR as a reference rate and (iii) the Revolving Credit Agreement shall bear interest at a floating rate of, at UGI Utilities’ option, either (x) Term SOFR plus the applicable margin plus a credit spread adjustment of 0.10% or (y) the base rate plus the applicable margin.
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461422000067/0000884614-22-000067-index.htm
- Material Agreements
  UGI CORP /PA/ amended First Amendment to Credit Agreement with PNC Bank, National Association, as administrative agent, and certain lenders valued at $75,000,000 (effective 2022-12-13).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: PNC Bank, National Association, as administrative agent, and certain lenders
  - Value: $75,000,000
  - Effective: 2022-12-13
  source text: On December 13, 2022, UGI Utilities, Inc. (“UGI Utilities”), a wholly owned subsidiary of UGI Corporation (the “Company”), entered into that certain First Amendment to Credit Agreement (the “Amendment”), by and among PNC Bank, National Association, as administrative agent, UGI Utilities and certain lenders party thereto, which amended UGI Utilities’ Credit Agreement, dated as of June 27, 2019 (as amended, the “Revolving Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461422000067/0000884614-22-000067-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.