UGI International plans to sell €400 million guaranteed senior notes

By Marisa Wong

Los Angeles, Nov. 22 – UGI Corp. announced that indirect wholly owned subsidiary UGI International, LLC intends to offer €400 million of senior notes (Ba1//BB+).

The notes will be guaranteed by some subsidiaries of UGI International that guarantee its obligations under its existing €300 million senior unsecured term loan and €300 million senior unsecured revolver, but the notes will not be guaranteed by the parent company.

UGI International expects to use proceeds to redeem its €350 million of senior notes due 2025 in full, with the remainder to be used for general corporate purposes or to be distributed to the parent company.

The Rule 144A and Regulation S offering is subject to market conditions.

UGI is a Valley Forge, Pa.-based distributor and marketer of energy products and services.

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