secwatch.observer — SEC 8-K summary
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Issuer:     UGI CORP /PA/ (UGI)
CIK:        0000884614
Form:       8-K
Filed at:   2023-11-20T23:59:59+00:00
Accession:  0000884614-23-000097
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/884614/000088461423000097/0000884614-23-000097-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/884614/000088461423000097/ugi-20231115.htm
  HTML page:      https://secwatch.observer/filing/0000884614-23-000097

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