By Devika Patel
Knoxville, Tenn., Dec. 31 – UGI Utilities, Inc. arranged a $150 million private placement of 4.55% senior notes due Feb. 1, 2049 on Dec. 14, according to an 8-K filed with the Securities and Exchange Commission. Credit Suisse Securities (USA) LLC and PNC Capital Markets LLC were the agents.
The notes have a make-whole call at any time.
Proceeds will be used to pay down short-term debt under the company’s revolving credit facility and for other general corporate purposes.
UGI is a King of Prussia, Pa.-based holding company that distributes, stores, transports and markets energy products and related services through its subsidiaries.
| Issuer: | UGI Utilities, Inc.
|
| Issue: | Senior notes
|
| Amount: | $150 million
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| Maturity: | Feb. 1, 2049
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| Agents: | Credit Suisse Securities (USA) LLC and PNC Capital Markets LLC
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| Coupon: | 4.55%
|
| Call: | Make-whole call at any time
|
| Pricing date: | Dec. 14
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| Settlement date: | Feb. 1
|
| Distribution: | Private placement
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