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AmeriGas begins tender offer for 5 5/8% senior notes due 2024
By Marisa Wong
Los Angeles, May 22 – UGI Corp. announced that subsidiaries AmeriGas Partners, LP and AmeriGas Finance Corp. have begun an offer to purchase for cash any and all of their outstanding 5 5/8% senior notes due 2024.
The companies are offering to purchase the notes at $1,010.90 per $1,000 principal amount, plus accrued interest to but excluding the settlement date.
The offer expires at 5 p.m. ET on May 26. Tenders may be withdrawn prior to that time.
The tender offer is conditioned on, among other things, the companies’ successful completion of one or more debt financing transactions in an amount sufficient, together with cash on hand, a cash contribution from UGI or other sources of liquidity, to fund the tender offer.
Substantially concurrently with the launch of the offer, the companies will issue a conditional notice of full redemption to redeem any 2024 notes not purchased in the offer.
Wells Fargo Securities, LLC (liabilitymanagement@wellsfargo.com; 704 410-4756 or 866 309-6316) is the dealer manager for the tender offer.
D.F. King & Co., Inc. (888 541-9895 or 212-269-5550; www.dfking.com/ugi) is the information agent.
AmeriGas is a retail propane marketer in the United States. Parent UGI is a distributor and marketer of energy products and services in the United States and Europe. Both companies are based in King of Prussia, Pa.
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