AmeriGas Partners, L.P. and AmeriGas Finance Corp. have recently initiated a cash tender offer for up to $450,000,000 of their 5.500% senior notes due 2025. The tender offer is set to expire on July 11, 2024, and notes tendered and not withdrawn by the early tender deadline are eligible to receive a purchase price of $1,005.00 per $1,000 principal amount, including an early tender payment of $50.00 per $1,000 principal amount. Notes tendered after the early tender deadline but before the expiration time will be eligible to receive a purchase price of $955.00 per $1,000 principal amount.
The offerors have retained BNP Paribas Securities Corp. as the dealer manager, and inquiries regarding the tender offer should be directed to them.
As of the early tender deadline, the offerors have not yet disclosed the total principal amount of notes tendered. However, this tender offer represents a significant financial decision for AmeriGas Partners, L.P. and AmeriGas Finance Corp. as they seek to manage their outstanding debt obligations. As a result of these announcements, the company's shares have moved -1.7% on the market, and are now trading at a price of $22.85. If you want to know more, read the company's complete 8-K report here.
