UGI issues $700M of 5.00% convertible senior notes due 2028 at $27.60 conversion

UGI CORP /PA/

Issued $700M aggregate principal of 5.00% Convertible Senior Notes due June 1, 2028.
Initial conversion rate 36.2319 shares per $1,000 principal (conversion price ~$27.60/share).
Interest at 5% semi-annually on June 1 and Dec 1, first payment Dec 1, 2024.
Initial purchasers fully exercised $90M option, included in the $700M total.
Notes are senior unsecured; holders may require repurchase upon fundamental change.

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