Loan & DebtMay 18, 2026, 09:17 AM
UGI's AmeriGas Tender Offer for 2027 Notes Sees 91.51% Participation
AI Summary
UGI Corporation's subsidiaries, AmeriGas Partners and AmeriGas Finance Corp., announced the final results of their tender offer for the 5.750% Senior Notes due 2027. The offer saw $468,471,000, or approximately 91.51%, of the notes validly tendered. The settlement is expected on May 20, 2026, with a total consideration of $1,011.18 per $1,000 principal amount. The Offerors also issued a conditional notice to redeem any remaining 2027 Notes, subject to financing conditions.
Key Highlights
- AmeriGas's tender offer for 5.750% Senior Notes due 2027 expired on May 15, 2026.
- $468,471,000 aggregate principal amount of 2027 Notes were validly tendered.
- This represents approximately 91.51% of the outstanding 2027 Notes.
- Tendered notes will receive $1,011.18 per $1,000 principal amount, plus accrued interest.
- The settlement date for accepted notes is expected on May 20, 2026.
- A conditional notice was issued to redeem any 2027 Notes not purchased in the offer.
- The offer is conditional on debt financing to fund purchases, repurchase $175M of 2028 notes, and repay $150M intercompany loan.
Price Impact
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