UGI Utilities to place three series of notes totaling $400 million

By Lisa Kerner

Charlotte, N.C., April 28 – UGI Utilities, Inc. agreed on April 22 to place senior notes totaling $400 million, according to a form 8-K filed with the Securities and Exchange Commission.

The notes will be issued as $100 million of 2.95% senior notes, series A, due June 30, 2026; $200 million of 4.12% senior notes, series B, due Sept. 30, 2046; and $100 million of 4.12% senior notes, series C, due Oct. 31, 2046.

Interest is payable semiannually on the series A notes on June 30 and Dec. 30; on the series B notes on March 30 and Sept. 30, and on the series C notes on April 30 and Oct. 31.

Proceeds will be used to refinance existing debt and for other general corporate purposes.

The pricing of the notes occurred on March 31. Funding is expected to occur on June 30 for the series A notes, Sept. 30 for the series B notes and Oct. 31 for the series C notes.

UGI is a King of Prussia, Pa.-based holding company that distributes, stores, transports and markets energy products and related services through its subsidiaries.

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