---
schema_version: "secwatch.filing_event.v1"
accession: "0000884614-23-000031"
form_type: "8-K"
ticker: "UGI"
cik: "0000884614"
company_name: "UGI CORP /PA/"
filed_at: "2023-02-28T23:59:59+00:00"
generated_at: "2026-06-18T23:08:22.829203+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# UGI Energy Services adds $124.5M incremental term loans, extends maturity to 2030

## Summary
- Term loan commitments increased by $124.5M; total outstanding loans become $800M.
- Maturity extended to February 22, 2030; LIBOR replaced with Term SOFR.
- Interest rate: Term SOFR + 3.25% or base rate + 2.25% per annum.
- Proceeds used to repay revolving credit and receivables facility, plus general corporate purposes.
- Amendment also refinances $191.5M of existing term loans via cashless roll.

## SEC filing metadata
- accession: 0000884614-23-000031
- form_type: 8-K
- ticker: UGI
- cik: 0000884614
- company_name: UGI CORP /PA/
- filed_at: 2023-02-28T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884614/000088461423000031/0000884614-23-000031-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884614/000088461423000031/ugi-20230223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000884614-23-000031
- JSON: https://secwatch.observer/filing/0000884614-23-000031.json
- Plain text: https://secwatch.observer/filing/0000884614-23-000031.txt

## Key facts
- Debt Financings
  UGI CORP /PA/ amended term loan of $800 million with Credit Suisse AG, Cayman Islands Branch at Term SOFR plus the applicable margin plus a credit spread adjustment of 0.10% or maturing February 22, 2030.
  - Instrument: term loan
  - Principal: $800 million
  - Counterparty: Credit Suisse AG, Cayman Islands Branch
  - Rate: Term SOFR plus the applicable margin plus a credit spread adjustment of 0.10% or
  - Maturity: February 22, 2030
  - Event: amendment
  source text: The Amendment provides, among other items, that: (i) the commitments under the Term Loan Credit Agreement are increased by $124.5 million, so that after giving effect to the Amendment and the borrowings thereunder, the outstanding principal amount of the loans under the Term Loan Credit Agreement will be $800 million, (ii) the maturity date of the loans under the Term Loan Credit Agreement shall be extended to February 22, 2030, (iii) Term SOFR (as defined in the Term Loan Credit Agreement) shall replace LIBOR as a reference rate and (iv) the Term Loan Credit Agreement shall bear interest at a floating rate of, at UGI Energy Services’ 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/884614/000088461423000031/0000884614-23-000031-index.htm
- Material Agreements
  UGI CORP /PA/ amended First Amendment to Credit Agreement with Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the lenders party thereto valued at $124.5 million (effective 2023-02-23).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the lenders party thereto
  - Value: $124.5 million
  - Effective: 2023-02-23
  source text: On February 23, 2023, UGI Energy Services, LLC (“UGI Energy Services”), a Pennsylvania limited liability company and an indirect, wholly owned subsidiary of UGI Corporation (the “Company”), entered into that certain First Amendment to Credit Agreement (the “Amendment”), by and among UGI Energy Services, the guarantors party thereto, Credit Suisse AG, Cayman Islands Branch, as administrative agent, and the lenders party thereto, which amended UGI Energy Services’ Credit Agreement, dated as of August 13, 2019 (as amended, the “Term Loan Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000031/0000884614-23-000031-index.htm

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