AmeriGas whispers $525 million 10.25-year bullet in 5½%-5¾% range; pricing expected Monday

By Paul A. Harris

Portland, Ore., Feb. 6 – AmeriGas Partners, LP and co-issuer AmeriGas Finance Corp., a wholly owned subsidiary, plan to price a $525 million offering of non-callable 10.25-year senior notes (Ba3/BB) on Monday, according to market sources.

Initial talk has the deal coming with a yield in the context of 5½% to 5¾%, a trader said.

J.P. Morgan Securities LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc. and BofA Merrill Lynch are the joint bookrunners for the public offering.

The Valley Forge, Pa.-based propane marketer plans to use the proceeds to finance a tender offer for its 7% senior notes due 2022 and for general business purposes.

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