AmeriGas Partners, L.P. and AmeriGas Finance Corp. Commence Senior Notes Offering
May 22 2023 - 7:58AM
Business Wire
UGI Corporation (NYSE: UGI) announced today that its
subsidiaries, AmeriGas Partners, L.P. (“AmeriGas Partners”) and
AmeriGas Finance Corp. (together with AmeriGas Partners, the
“Issuers”), intend to offer, subject to market and other
conditions, $500,000,000 in aggregate principal amount of senior
notes due 2028 (the “Notes”) in an offering to persons reasonably
believed to be qualified institutional buyers pursuant to Rule 144A
under the Securities Act of 1933, as amended (the “Securities
Act”), and outside the United States in compliance with Regulation
S under the Securities Act.
The Issuers intend to use the net proceeds from the offering,
together with cash on hand, a cash contribution from UGI
Corporation and/or other sources of liquidity, to redeem or
repurchase in full the Issuers’ 5.625% Senior Notes due 2024,
including accrued interest thereon, and to pay related fees and
expenses.
The Notes will not be registered under the Securities Act, or
any state securities laws, and may not be offered or sold in the
United States absent registration, except pursuant to an exemption
from the registration requirements of the Securities Act and
applicable state securities laws.
This announcement is for informational purposes only and does
not constitute an offer to sell, or the solicitation of an offer to
buy, any note in any jurisdiction in which such an offer or
solicitation, or the sale of these notes, would be unlawful without
registration or qualification under the securities laws of such
jurisdiction.
Cautionary Statements:
This press release contains “forward-looking statements” within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, Section 27A of the Securities Act of 1933, as amended,
and the U.S. Private Securities Litigation Reform Act of 1995,
including statements regarding the Issuers’ expectations regarding
the aggregate principal amount of the Notes to be sold and the
intended use of proceeds from the offering of the Notes. Readers
are cautioned not to place undue reliance on these forward-looking
statements and any such forward-looking statements are qualified in
their entirety by reference to the following cautionary statements.
All forward-looking statements speak only as of the date of this
press release and are based on current expectations and involve a
number of assumptions, risks, and uncertainties that could cause
the actual results to differ materially from such forward-looking
statements. Readers are strongly encouraged to read the full
cautionary statements contained in AmeriGas Partners’ most recent
annual report and in UGI’s filings with the SEC, and in UGI’s and
the Issuers’ other communications with investors. UGI and the
Issuers disclaim any obligation to update or revise any
forward-looking statements.
About AmeriGas Partners
AmeriGas Partners is the largest retail propane marketer in the
United States, with approximately 1 billion gallons of propane sold
annually to 1.3 million customers in all 50 states from
approximately 1,400 locations.
About UGI
UGI Corporation (NYSE: UGI) is a distributor and marketer of
energy products and services in the US and Europe. UGI offers safe,
reliable, affordable, and sustainable energy solutions to customers
through its subsidiaries, which provide natural gas transmission
and distribution, electric generation and distribution, midstream
services, propane distribution, renewable natural gas generation,
distribution and marketing, and energy marketing services.
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