---
schema_version: "secwatch.filing_event.v1"
accession: "0000884614-23-000097"
form_type: "8-K"
ticker: "UGI"
cik: "0000884614"
company_name: "UGI CORP /PA/"
filed_at: "2023-11-20T23:59:59+00:00"
generated_at: "2026-06-07T23:40:07.676199+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# AmeriGas Propane reduces revolving credit facility from $600M to $400M, tightens interest coverage covenant

## Summary
- AmeriGas Propane, a UGI subsidiary, amended its credit agreement on Nov 15, 2023, cutting revolving commitments from $600M to $400M.
- Minimum Interest Coverage Ratio set at 2.50x for quarters ending Sep 30, 2023 through Sep 30, 2024.
- After Sep 30, 2024, minimum Interest Coverage steps to 2.75x if leverage >=5.00x, else 2.50x.
- The amendment tightens financial covenants while reducing available borrowing capacity.

## SEC filing metadata
- accession: 0000884614-23-000097
- form_type: 8-K
- ticker: UGI
- cik: 0000884614
- company_name: UGI CORP /PA/
- filed_at: 2023-11-20T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884614/000088461423000097/0000884614-23-000097-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884614/000088461423000097/ugi-20231115.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000884614-23-000097
- JSON: https://secwatch.observer/filing/0000884614-23-000097.json
- Plain text: https://secwatch.observer/filing/0000884614-23-000097.txt

## Key facts
- Debt Financings
  UGI CORP /PA/ amended revolving credit of reduced to $400 million from $600 million with Wells Fargo Bank, National Association.
  - Instrument: revolving credit
  - Principal: reduced to $400 million from $600 million
  - Counterparty: Wells Fargo Bank, National Association
  - Event: amendment
  source text: The Amendment provides that (a) the revolving loan commitments under the AmeriGas Credit Agreement are reduced to $400 million from $600 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000097/0000884614-23-000097-index.htm
- Material Agreements
  UGI CORP /PA/ amended First Amendment to Credit Agreement with Wells Fargo Bank, National Association, as administrative agent valued at $400 million (effective 2023-11-15).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Wells Fargo Bank, National Association, as administrative agent
  - Value: $400 million
  - Effective: 2023-11-15
  source text: (the “Borrower”), a Delaware limited partnership and an indirect, wholly owned subsidiary of UGI Corporation, entered into a First Amendment to Credit Agreement (the “Amendment”), by and among the Borrower, AmeriGas Propane, Inc., a Pennsylvania corporation (the “Parent”), the Lenders party thereto and Wells Fargo Bank, National Association, as administrative agent (the “Agent”), which amended the Credit Agreement, dated as of September 28, 2022, by and among the Borrower, the Parent, the lenders party thereto from time to time (the “Lenders”), and the Agent (as amended, the “AmeriGas Credit Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000097/0000884614-23-000097-index.htm

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