Suburban Propane to price $250 million of 10-year notes on Tuesday

By Paul A. Harris

Portland, Ore., Feb. 10 – Suburban Propane Partners, LP and Suburban Energy Finance Corp. plan to price a $250 million offering of 10-year senior notes (expected ratings Ba3/BB-) on Tuesday, according to a syndicate source.

An investor conference call is scheduled for 11:30 a.m. ET Tuesday morning.

Wells Fargo Securities LLC is the left bookrunner for the public offer. BofA Merrill Lynch, Citigroup Global Markets, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and RBS Securities are the joint bookrunners.

The notes come with five years of call protection.

The Whippany, N.J.-based master limited partnership plans to use the proceeds to repurchase its 7 3/8% senior notes due 2020.

Suburban Propane Partners supplies propane, fuel oil and related products and services and markets natural gas and electricity.

© 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.