AmeriGas Partners buys back $378.34 million 7% notes in tender offer

By Angela McDaniels

Tacoma, Wash., Feb. 13 – AmeriGas Partners, LP received tenders for $378.34 million principal amount, or 78.68%, of the 7% senior notes due 2022 issued by subsidiaries AmeriGas Finance LLC and AmeriGas Finance Corp., according to a company news release.

Holders tendered an additional $22,000 of notes through guaranteed delivery procedures.

The tender offer began Feb. 6 and ended at 5 p.m. ET on Feb. 10.

Holders received $1,050 per $1,000 principal amount of notes plus accrued interest up to but excluding the settlement date.

The company funded the tender offer with the proceeds of $525 million of 5¾% senior notes due 2027, which priced at par on Feb. 6. Remaining proceeds will be used for general business purposes.

J.P. Morgan Securities LLC (212 834-4811 or 866 834-4666) was the dealer manager. D.F. King & Co., Inc. (800 967-5074, 212 269-5550 or dfking.com/ugi) was the information agent.

AmeriGas is a Valley Forge, Pa., retail marketer of propane.

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