---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-027903"
form_type: "8-K"
ticker: "UGI"
cik: "0000884614"
company_name: "UGI CORP /PA/"
filed_at: "2023-06-02T23:59:59+00:00"
generated_at: "2026-06-14T08:44:41.601025+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# UGI subsidiary AmeriGas issues $500M 9.375% notes due 2028; redeems $640M of 5.625% notes due 2024

## Summary
- AmeriGas Partners and Finance Corp., indirect wholly owned subsidiaries of UGI, issued $500M of 9.375% senior notes due 2028.
- Proceeds from the offering, along with cash on hand and a contribution from UGI, used to redeem all outstanding $639.8M of 5.625% notes due 2024.
- Remaining 2024 notes to be redeemed on June 21, 2023 at a price equal to 100% of principal plus Applicable Premium and accrued interest.
- The 2028 notes pay cash interest semi-annually, are callable at make-whole premium before June 2025, then at declining call premium.
- The 2028 notes are senior unsecured obligations ranking equally with other unsecured debt and effectively junior to secured debt.

## SEC filing metadata
- accession: 0001140361-23-027903
- form_type: 8-K
- ticker: UGI
- cik: 0000884614
- company_name: UGI CORP /PA/
- filed_at: 2023-06-02T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/884614/000114036123027903/0001140361-23-027903-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/884614/000114036123027903/brhc20053880_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-027903
- JSON: https://secwatch.observer/filing/0001140361-23-027903.json
- Plain text: https://secwatch.observer/filing/0001140361-23-027903.txt

## Key facts
- Debt Financings
  UGI CORP /PA/ incurred senior notes of $500.0 million aggregate principal amount with U.S. Bank Trust Company, National Association at 9.375% maturing 2028.
  - Instrument: senior notes
  - Principal: $500.0 million aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 9.375%
  - Maturity: 2028
  - Event: incurrence
  source text: On May 31, 2023, AmeriGas Partners, L.P. (“AmeriGas Partners”) and AmeriGas Finance Corp. (“Finance Corp.” and, together with AmeriGas Partners, the “Issuers”), the indirect, wholly owned subsidiaries of UGI Corporation (the “Company”), issued $500.0 million aggregate principal amount of their 9.375% senior unsecured notes due 2028 (the “2028 Notes” and the offering of the 2028 Notes, the “Offering”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000114036123027903/0001140361-23-027903-index.htm
- Material Agreements
  UGI CORP /PA/ terminated a notes offering valued at $639,774,000 in aggregate principal amount (effective 2023-05-31).
  - Action: termination
  - Agreement: notes offering
  - Value: $639,774,000 in aggregate principal amount
  - Effective: 2023-05-31
  source text: On May 31, 2023, the Issuers accepted for purchase (and purchased) the 2024 Notes validly tendered as of the expiration and on June 1, 2023 accepted for purchase (and purchased) the 2024 Notes validly tendered through the guaranteed delivery procedures, in each case, for a total consideration of $1,010.90 for each $1,000 principal amount of the 2024 Notes tendered
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000114036123027903/0001140361-23-027903-index.htm
- Material Agreements
  UGI CORP /PA/ entered into 2028 Notes Indenture with U.S. Bank Trust Company, National Association valued at $500.0 million aggregate principal amount (effective 2023-05-31).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $500.0 million aggregate principal amount
  - Effective: 2023-05-31
  source text: On May 31, 2023, AmeriGas Partners, L.P. (“AmeriGas Partners”) and AmeriGas Finance Corp. (“Finance Corp.” and, together with AmeriGas Partners, the “Issuers”), the indirect, wholly owned subsidiaries of UGI Corporation (the “Company”), issued $500.0 million aggregate principal amount of their 9.375% senior unsecured notes due 2028 (the “2028 Notes” and the offering of the 2028 Notes, the “Offering”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/884614/000114036123027903/0001140361-23-027903-index.htm

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