AmeriGas Partners LP and its unit AmeriGas Finance Corp. intend to offer $550 million of senior notes due 2025 to finance the partnership's offer to purchase up to $500 million of its senior notes due 2022.
The tender offer for the 7.00% senior notes due 2022 will expire at 11:59 p.m. ET on Jan. 11, 2017, with the early participation date set at Dec. 27, according to two news releases issued by the partnership on Dec. 13.
Unit holders who tender their notes prior to the expiration date but after Dec. 27 will receive a tender offer consideration of $1,027.50 for every $1,000 of notes accepted for purchase, payable Jan. 12, 2017. Those who tender their notes by the early participation date will receive an additional $30 per $1,000 worth of notes accepted for purchase, payable Dec. 28. All noteholders are eligible to receive accrued and unpaid interest on the notes.
The tender offer is conditioned upon the receipt of the net proceeds from the public offering of the 2025 notes, which must be enough to cover the tender offers.
Tendered notes may be withdrawn at or prior to 5 p.m. ET on Dec. 27, 2016, unless the offer is extended.