UGI Corporation: Senior Notes Issuance

UGI Corporation, through its wholly-owned subsidiary UGI International, LLC, has issued €300,000,000 in aggregate principal amount of 5.000% senior notes due 2031. These notes were issued via a private offering under Rule 144A and Regulation S. The notes are senior unsecured obligations, guaranteed by UGI International's restricted subsidiaries. The issuance includes provisions for optional redemption, with call premiums that decrease over time, and mandatory repurchase upon a change of control triggering event or asset sales under certain circumstances. The Indenture imposes restrictive covenants on UGI International and its subsidiaries regarding incurring additional debt, paying dividends, selling assets, and other financial actions. Events of default are outlined, including non-payment and bankruptcy. The net proceeds from the notes issuance will be used to repay short-term borrowings, other outstanding amounts under the revolving credit facility, partially prepay term loan borrowings, and cover related fees and expenses, with any remainder for general corporate purposes.