UGI Utilities issues $175M in senior notes; $50M 5.24% due 2029, $125M 5.52% due 2034

UGI CORP /PA/

Private placement of Series A ($50M, 5.24%, due Nov 2029) and Series B ($125M, 5.52%, due Nov 2034).
Proceeds primarily to refinance existing indebtedness and for general corporate purposes.
Notes are unsecured and unsubordinated, ranking pari passu with existing unsecured debt.
Financial covenant: total debt to total capitalization not to exceed 0.65 to 1.00.
Funding occurred Nov 14, 2024; interest payable semiannually on May 30 and Nov 30.

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