UGI subsidiary AmeriGas launches $500M senior notes offering and tender offers for existing notes

UGI CORP /PA/

AmeriGas Partners and AmeriGas Finance Corp. commence private offering of $500M senior notes due 2031.
Tender offers launched for any and all of the 5.750% Senior Notes due 2027 and up to $175M of 9.375% Senior Notes due 2028.
The Issuers will use proceeds, a $300M equity contribution from parent (funded by UGI International), and cash on hand to fund purchases, repay $150M intercompany loan, and pay fees.
A conditional notice of redemption will be issued for 2027 Notes not purchased in the tender offer.
Tender offer prices set at $1,011.18 per $1,000 for 2027 notes; $1,023.44 per $1,000 for 2028 notes (early tender).

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