UGI enters into $875M new credit facilities, replaces existing agreement

UGI CORP /PA/

New $475M senior secured revolver due Oct 2028; $400M term loan due Oct 2027.
Interest: SOFR + 1.875%-2.75% or ABR + 0.875%-1.75% based on leverage.
Covenants: max net leverage 5.00x (through Sep 2026) to 4.50x; min interest coverage 3.25x.
Old $475M credit agreement (May 2021) terminated without penalty.
Secured by pledge of material subsidiaries' equity, excluding UGI Utilities and Mountaintop Energy.

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