UGI Corp. subsidiary UGI International LLC secured commitments from various lenders for an up to €300 million multicurrency revolving loan facility, which it will use for general corporate purposes.
The facility matures on April 30, 2020, and is secured by a first ranking French law pledge over the shares representing 65% of UGI France's share capital and voting rights, according to a Form 8-K filed Dec. 26.
Loans made in euros will bear interest at the euro interbank offered rate administered by the European Money Markets Institute, plus the 1.75% per annum Euro margin. Loans made in U.S. dollars will bear interest at the London interbank offered rate administered by ICE Benchmark Administration Ltd., plus the 2% per annum LIBOR margin.
Natixis served as agent, security agent, mandated lead arranger, bookrunner and coordinator. BNP Paribas, Credit Agricole Corporate and Investment Bank, HSBC France, ING Bank NV and Mediobanca International (Luxembourg) SA were mandated lead arrangers.