AmeriGas Partners, L.P. (NYSE: APU) (“AmeriGas Partners”) announced
today that it and its wholly owned subsidiary, AmeriGas Finance Corp.,
will issue $675 million aggregate principal amount of 5.625% Senior
Notes due 2024 and $675 million aggregate principal amount of 5.875%
Senior Notes due 2026. The proceeds from the offering will be used to
finance AmeriGas Partners’ tender offers for its outstanding 6.25%
Senior Notes due 2019, 6.75% Senior Notes due 2020, and 6.50% Senior
Notes due 2021. If any such notes are not tendered, AmeriGas Partners
intends to redeem such notes with the proceeds from the offering. Any
remaining proceeds will be used for general business purposes. The
offering is expected to close on or about June 27, 2016, subject to
customary closing conditions.
BofA Merrill Lynch, Citigroup, J.P. Morgan and Wells Fargo Securities
are acting as joint book-running managers for the offering.
This offering is being made under an effective shelf registration
statement filed with the U.S. Securities and Exchange Commission, and
this offering is being made only by means of a prospectus supplement for
this offering and a related base prospectus. Copies of the prospectus
supplement and related base prospectus may be obtained by contacting:
BofA Merrill Lynch, 222 Broadway, New York, New York 10038, Attention:
Prospectus Department, Email: dg.prospectus_requests@baml.com;
Citigroup Global Markets Inc., 1155 Long Island Avenue, Edgewood, NY
11717, Attn: Broadridge Financial Solutions or by telephone at
800-831-9146; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717, prospectus-eq_fi@jpmchase.com,
or by telephone at (866) 803-9204; or Wells Fargo Securities, LLC, at
608 2nd Ave S, Suite 1000, Minneapolis, MN 55402, Attention: WFS
Customer Service or by calling 1-800-645-3751 Opt 5 or by email at wfscustomerservice@wellsfargo.com.
This announcement is for informational purposes only and does not
constitute an offer to sell, or the solicitation of an offer to buy, any
note in any jurisdiction in which such an offer or solicitation, or the
sale of these notes, would be unlawful without registration or
qualification under the securities laws of such jurisdiction.
About AmeriGas Partners
AmeriGas Partners is the nation’s largest retail propane marketer,
serving approximately two million customers in all 50 states from
approximately 2,000 distribution locations. UGI Corporation, through
subsidiaries, is the sole General Partner and owns 26% of AmeriGas
Partners and the public owns the remaining 74%.
This press release contains certain forward-looking statements that
management believes to be reasonable as of today’s date only. Actual
results may differ significantly because of risks and uncertainties that
are difficult to predict and many of which are beyond management’s
control. You should read AmeriGas Partners’ Annual Report on Form 10-K,
as amended, for a more extensive list of factors that could affect
results. Among them are adverse weather conditions, cost volatility and
availability of propane, increased customer conservation measures, the
capacity to transport propane to our market areas, the impact of pending
and future legal proceedings, political, economic and regulatory
conditions in the U.S. and abroad, and our ability to successfully
integrate acquisitions and achieve anticipated synergies. AmeriGas
Partners undertakes no obligation to release revisions to its
forward-looking statements to reflect events or circumstances occurring
after today.
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