---
schema_version: "secwatch.filing_event.v1"
accession: "0000884614-23-000108"
form_type: "8-K"
ticker: "UGI"
cik: "0000884614"
company_name: "UGI CORP /PA/"
filed_at: "2023-12-05T23:59:59+00:00"
generated_at: "2026-06-07T18:27:58.871118+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# UGI Utilities issues $250M in senior notes across three tranches with rates 6.02%-6.40%

## Summary
- $25M Series A 6.02% due Nov 2030, $150M Series B 6.10% due Nov 2033, $75M Series C 6.40% due Nov 2053.
- Proceeds will be used to refinance indebtedness and for general corporate purposes.
- Notes are unsecured, unsubordinated obligations of UGI Utilities, ranking pari passu with existing debt.
- Covenants include debt-to-capitalization ratio ≤0.65, asset sale limit 15% of total assets, and change-in-control put.
- Funding occurred on Nov 30, 2023; interest payable semiannually on May 30 and Nov 30.

## SEC filing metadata
- accession: 0000884614-23-000108
- form_type: 8-K
- ticker: UGI
- cik: 0000884614
- company_name: UGI CORP /PA/
- filed_at: 2023-12-05T23:59:59+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/884614/000088461423000108/0000884614-23-000108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884614/000088461423000108/ugi-20231130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000884614-23-000108
- JSON: https://secwatch.observer/filing/0000884614-23-000108.json
- Plain text: https://secwatch.observer/filing/0000884614-23-000108.txt

## Key facts
- Debt Financings
  UGI CORP /PA/ incurred senior notes of $25 million aggregate principal amount of 6.02% Senior Notes, Series A with certain persons (the "Utilities Note Purchasers") at 6.02% maturing November 30, 2030.
  - Instrument: senior notes
  - Principal: $25 million aggregate principal amount of 6.02% Senior Notes, Series A
  - Counterparty: certain persons (the "Utilities Note Purchasers")
  - Rate: 6.02%
  - Maturity: November 30, 2030
  - Event: incurrence
  source text: On November 30, 2023, UGI Utilities, Inc. (“UGI Utilities”), a wholly owned subsidiary of UGI Corporation (the “Company”), entered into a Note Purchase Agreement (the “Utilities Note Purchase Agreement”) with certain persons (the “Utilities Note Purchasers”) relating to the private placement of $25 million aggregate principal amount of 6.02% Senior Notes, Series A, with a maturity date of November 30, 2030
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000108/0000884614-23-000108-index.htm
- Debt Financings
  UGI CORP /PA/ incurred senior notes of $75 million aggregate principal amount of 6.40% Senior Notes, Series C with certain persons (the "Utilities Note Purchasers") at 6.40% maturing November 30, 2053.
  - Instrument: senior notes
  - Principal: $75 million aggregate principal amount of 6.40% Senior Notes, Series C
  - Counterparty: certain persons (the "Utilities Note Purchasers")
  - Rate: 6.40%
  - Maturity: November 30, 2053
  - Event: incurrence
  source text: $75 million aggregate principal amount of 6.40% Senior Notes, Series C, with a maturity date of November 30, 2053
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000108/0000884614-23-000108-index.htm
- Debt Financings
  UGI CORP /PA/ incurred senior notes of $150 million aggregate principal amount of 6.10% Senior Notes, Series B with certain persons (the "Utilities Note Purchasers") at 6.10% maturing November 30, 2033.
  - Instrument: senior notes
  - Principal: $150 million aggregate principal amount of 6.10% Senior Notes, Series B
  - Counterparty: certain persons (the "Utilities Note Purchasers")
  - Rate: 6.10%
  - Maturity: November 30, 2033
  - Event: incurrence
  source text: $150 million aggregate principal amount of 6.10% Senior Notes, Series B, with a maturity date of November 30, 2033
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000108/0000884614-23-000108-index.htm
- Material Agreements
  UGI CORP /PA/ entered into Utilities Note Purchase Agreement with certain persons (the "Utilities Note Purchasers") valued at $25 million aggregate principal amount of 6.02% Senior Notes, Series A, $150 million aggregate princ (effective 2023-11-30).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain persons (the "Utilities Note Purchasers")
  - Value: $25 million aggregate principal amount of 6.02% Senior Notes, Series A, $150 million aggregate princ
  - Effective: 2023-11-30
  source text: On November 30, 2023, UGI Utilities, Inc. (“UGI Utilities”), a wholly owned subsidiary of UGI Corporation (the “Company”), entered into a Note Purchase Agreement (the “Utilities Note Purchase Agreement”) with certain persons (the “Utilities Note Purchasers”) relating to the private placement of $25 million aggregate principal amount of 6.02% Senior Notes, Series A, with a maturity date of November 30, 2030 (the “Series A Notes”), $150 million aggregate principal amount of 6.10% Senior Notes, Series B, with a maturity date of November 30, 2033 (the “Series B Notes”), and $75 million aggregate principal amount of 6.40% Senior Notes, Series C, with a maturity date of November 30, 2053 (the “Series C Notes,” and together with the Series A Notes and the Series B Notes, the “Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000088461423000108/0000884614-23-000108-index.htm

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