AmeriGas begins tender offer, consent solicitation for 7 1/8% notes

By Angela McDaniels

Tacoma, Wash., July 27 - AmeriGas Partners, LP began a tender offer for its $350 million of 7 1/8% senior notes due 2016, according to an 8-K filing with the Securities and Exchange Commission.

The company is also soliciting consents to proposed amendments to eliminate substantially all of the restrictive covenants in the indenture governing the notes and certain other provisions.

The company will pay $1,038.13 per $1,000 principal amount of notes. This includes a consent payment of $25.00 for each note tendered with consent by the consent date, which is 5 p.m. ET on Aug. 9.

Holders will also receive accrued interest up to but excluding the settlement date.

The company expects the payment date to be Aug. 10 for notes tendered by the consent date.

The tender offer will expire at 11:59 p.m. ET on Aug. 23.

The offer is conditioned on the receipt of tenders and consents for a majority of the outstanding notes by the consent date and the receipt of enough proceeds from a public offering of debt securities to fund the tender offer.

The coordinating dealer manager and solicitation agent is Credit Suisse Securities (USA) LLC (800 820-1653 or 212 538-2147). J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are co-dealer managers and solicitation agents. The information agent is D.F. King & Co., Inc. (800 848-2998 or 212 269-5550).

AmeriGas is a retail propane marketer based in Valley Forge, Pa.

© 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.