New Issue: AmeriGas $40 million add-on to notes due 2011 yields 8.116%

By Paul A. Harris

St. Louis, Mo., May 6 - AmeriGas Partners, LP and AP Eagle Finance Corp. priced a $40 million add-on to their 8 7/8% senior notes due May 20, 2011 (Ba3/BB+) late Friday, according to a syndicate source. The deal priced at 104.00 for a yield to worst of 8.116%.

Credit Suisse First Boston was the bookrunner.

Proceeds from the Rule 144A offering will be used to repay the bank debt of its operating partnership, for working capital and for general corporate purposes.

The propane marketing company is headquartered in King of Prussia, Pa.

Issuer:	AmeriGas Partners, LP and AP Eagle Finance Corp.
Amount:	$40 million
Type:	Add-on to 8 7/8% senior notes due May 20, 2011
Manager:	Credit Suisse First Boston
Coupon:	8 7/8%
Price:	104.00
Yield to maturity:	8.238%
Yield to worst:	8.116%
Spread:	317 basis points over 5% Treasury due Aug. 2011
Call features:	Callable on May 20, 2006 at 104.438, 102.958, 101.479, par on May 20, 2009 and thereafter
Equity clawback:	Until May 20, 2004 at 108.875% for up to 33%
Settlement date:	May 6, 2002 (T+1) with accrued interest
Interest payments:	May 20 and Nov. 20, commencing May 2002
Ratings:	Moody's: Ba3
	Standard & Poor's: BB+
Cusip:	03073KAC5

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