UGI Subsidiary Announces Closing of New $700 Million Term Loan Facility

Source Press Release
Company UGI Corporation 
Tags Debt Financing, Financing
Date August 13, 2019

UGI Corporation (NYSE: UGI) announced today that its subsidiary, UGI Energy Services, LLC, closed a new seven-year $700 million secured Term Loan B facility. The new Term Loan B facility priced at LIBOR + 3.75%. Proceeds from the facility, along with corporate liquidity, will be used for the long-term financing of the acquisition of the equity interests of Columbia Midstream Group, LLC from a subsidiary of  TC Energy Corporation (NYSE: TRP) for approximately $1.275 billion, which closed on August 1, 2019.

The administrative and collateral agent of the new Term Loan B facility is Credit Suisse AG. The joint bookrunners and joint lead arrangers are Credit Suisse Loan Funding LLC, JP Morgan Chase Bank, N.A., Citizens Bank, N.A., PNC Capital Markets LLC and Wells Fargo LLC.

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd