AmeriGas announces results of tender offer for senior notes

UGI Corporation (UGI) announced that its subsidiaries, AmeriGas Partners and AmeriGas Finance have received, as of 5:00 p.m., New York City time, on May 15, 2026, tenders from holders of $468,471,000 in aggregate principal amount, representing approximately 91.51%, of the Offerors’ 5.750% Senior Notes due 2027, in connection with its previously announced tender offer, which commenced on May 11, 2026 and is described in the Offer to Purchase, dated May 11, 2026, and the related Letter of Transmittal and Notice of Guaranteed Delivery. The Offerors’ obligation to accept for purchase, and to pay for, any 2027 Notes pursuant to the Tender Offer is subject to a number of conditions set forth in the Offer Documents, including the Offerors’ successful completion of one or more debt financing transactions, in an amount sufficient, together with cash previously received by AmeriGas Partners in connection with an equity contribution by its parent, originally funded by UGI International, LLC, a wholly owned indirect subsidiary of UGI Corporation, and cash on hand, to fund the purchase of validly tendered 2027 Notes accepted for purchase in the Tender Offer, and the redemption of any such 2027 Notes remaining thereafter, fund the repurchase of up to $175M aggregate principal amount of the Offerors’ 9.375% Senior Notes due 2028, repay $150M in outstanding indebtedness under the intercompany loan between AmeriGas Partners and UGI International, LLC and pay all related fees and expenses associated with the foregoing. Subject to the satisfaction or waiver of the conditions set forth in the Offer Documents, the settlement date for the 2027 Notes validly tendered prior to the Expiration Time or pursuant to guaranteed delivery procedures and accepted for purchase in the Tender Offer is expected to occur on Wednesday, May 20, 2026. 2027 Notes validly tendered and accepted for purchase will receive total consideration of $1,011.18 for each $1,000 principal amount of the 2027 Notes tendered, plus accrued and unpaid interest up to, but excluding, the Settlement Date for such 2027 Notes accepted for purchase.