Suburban Propane Partners, L.P. 8-K Filing

On December 22, 2025, Suburban Propane Partners, L.P. and Suburban Energy Finance Corp. entered into an indenture for $350,000,000 aggregate principal amount of 6.500% Senior Notes due 2035. These notes are unsecured and rank senior in right of payment to any future subordinated indebtedness and pari passu to existing and future unsecured senior indebtedness. However, they are structurally subordinated to the indebtedness and liabilities of Suburban Propane's subsidiaries. The indenture includes covenants that restrict Suburban Propane's ability to incur additional debt, pay dividends, make investments, engage in affiliate transactions, sell restricted subsidiaries' stock, create liens, transfer assets, restrict dividends to Suburban Propane, and effect consolidations, liquidations, or mergers. The offering was made to qualified institutional buyers and non-U.S. persons under specific regulations, as it was not registered under the Securities Act of 1933. The net proceeds, approximately $344.3 million after expenses, will be used to redeem all outstanding 5.875% senior notes due 2027, along with related fees and expenses. This transaction is also reported under Item 2.03 as the creation of a direct financial obligation.