Suburban Propane to redeem $133.4 million 7 3/8% notes due 2021

By Toni Weeks

San Luis Obispo, Calif., June 27 - Suburban Propane Partners, LP said it issued a call to redeem $133.4 million of its outstanding 7 3/8% senior notes due 2021, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at 107.375 plus accrued interest to the redemption date, which will be Aug. 2.

Following the transaction, about $370 million of the notes will remain outstanding.

Suburban Propane is a Whippany, N.J.-based retail marketer and distributor of propane, fuel oil and refined fuels.

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