By Wendy Van Sickle
Columbus, Ohio, July 5 – UGI Utilities, Inc. arranged a $175 million private placement of senior notes in two parts on June 30, according to an 8-K filed with the Securities and Exchange Commission.
The notes include $90 million of 4.75% senior notes, series A, with a maturity date of July 15, 2032 that are expected to be funded by July 15 and $85 million of 4.99% senior notes, series B, with a maturity date of Sept. 15, 2052 that are expected to be funded by Sept. 15.
The notes have a make-whole call at any time.
Proceeds will be used to refinance debt 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.
|
| Amount: | $175 million
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| Issue: | Senior notes
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| Call: | Make-whole call at any time in whole or in part
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| Pricing date: | June 15
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| Distribution: | Private placement
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|
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| Series A notes
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| Amount: | $90 million
|
| Maturity: | July 15, 2032
|
| Coupon: | 4.75%
|
| Settlement date: | July 15
|
|
|
| Series B notes
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| Amount: | $85 million
|
| Maturity: | Sept. 15, 2052
|
| Coupon: | 4.99%
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| Settlement date: | Sept. 15
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