UGI CORP /PA/ (UGI): debt financing — UGI enters $300M secured revolver to finance 2028 Notes conversion

UGI CORP /PA/

$300M senior secured revolving credit facility amended into existing credit agreement.
Facility matures Aug 5, 2026 with one-year extension if loans convert to non-revolving term loans.
Interest rates: Term SOFR + 2.125%-3.00% or ABR + 1.125%-2.00%, based on net leverage.
Secured by pledge of equity in Material Subsidiaries (excl. UGI Utilities and Mountaintop Energy).
Available solely to fund cash consideration due upon conversion of the 5.00% 2028 Notes.

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 $300 million with JPMorgan Chase Bank, N.A., as administrative agent at Term SOFR, plus the Applicable Rate plus a credit spread adjustment of 0.10%, or maturing August 5, 2026.

Instrument: revolving credit
Principal: $300 million
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Rate: Term SOFR, plus the Applicable Rate plus a credit spread adjustment of 0.10%, or
Maturity: August 5, 2026
Event: incurrence

Exact text from the filing

The Amendment provides for a new $300 million senior secured revolving loan facility (the “First Amendment Revolving Credit Facility”).

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Source: SEC EDGAR

accession 0001558370-25-011230

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