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UGI Utilities to issue $400M worth of debt in private placement

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UGI Utilities to issue $400M worth of debt in private placement

UGI UtilitiesInc. has entered an agreement to issue $400 million worth ofunsecured senior debt to meet general corporate expenses, according to a Form8-K filed April 28.

The agreement provides for $100 million worth of 2.95%series A notes due June 30, 2026; $200 million worth of 4.12% series B notesdue Sept. 30, 2046; and $100 million worth of 4.12% series C notes due Oct. 31,2046.

The notes were priced on March 31 and will be funded on June30, Sept. 30 and Oct. 31 respectively. The UGI Corp. subsidiary will make interest paymentssemiannually.