UGI CORP /PA/ (UGI): debt financing — Mountaineer Gas (UGI sub) enters $150M revolver, replaces 2019 credit facility

UGI CORP /PA/

New $150M unsecured revolver with $20M LC sublimit; maturity May 16, 2030, extendable to 2032.
Interest at base rate or SOFR plus margin (0–1.25% base, 1–2.25% SOFR) depending on debt rating.
Financial covenants: max debt/capitalization 0.65x; min EBITDA/interest coverage 2.0x.
Proceeds to refinance existing debt, fund working capital, and for general corporate purposes.
No material subsidiaries have provided guarantees as of May 16, 2025.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

UGI CORP /PA/ incurred revolving credit of $150 million with The Huntington National Bank, as administrative agent, and the lenders party thereto at adjusted term SOFR rate plus the applicable margin maturing May 16, 2030.

Instrument: revolving credit
Principal: $150 million
Counterparty: The Huntington National Bank, as administrative agent, and the lenders party thereto
Rate: adjusted term SOFR rate plus the applicable margin
Maturity: May 16, 2030
Event: incurrence

Exact text from the filing

The Mountaineer Credit Agreement provides, among other things, that the lenders’ revolver commitment is $150 million.

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Source: SEC EDGAR

accession 0001558370-25-008069

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