AmeriGas tenders for up to $500 million of 7% senior notes due 2022

By Susanna Moon

Chicago, Dec. 13 – AmeriGas Partners, LP began tendering for up to $500 million principal amount of the $980,844,000 of outstanding 7% senior notes due 2022 issued by wholly owned subsidiaries AmeriGas Partners, LP and AmeriGas Finance Corp.

The total purchase price will be $1,057.50 for each $1,000 principal amount of notes tendered by 5 p.m. ET on Dec. 27, the early tender date.

The total amount includes an early tender premium of $30.00 per $1,000 principal amount.

Holders who tender after the early deadline will receive $1,027.50 per $1,000 of notes.

The tender offer will end at 11:59 p.m. ET on Jan. 11.

Tendered notes may be withdrawn before the early deadline.

The company will pay accrued interest to but excluding the payment date, which will be Dec. 28 for early tendered notes and Jan. 12 for remaining tenders.

If the offer is oversubscribed as of the early deadline, no more tendered notes will be accepted for purchase in the offer.

The tender is contingent on AmeriGas obtaining enough proceeds from a public offering of debt to fund the offer.

The company said it reserves the right to increase the offer cap.

Wells Fargo Securities, LLC (866 309-6316 or 704 410-4760) is the dealer manager. D.F. King & Co., Inc. (800 967-5074 or 212 269-5550) is the information agent.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.