UGI Subsidiary Amends Revolving Credit and Security Agreement

UGI Corporation (NYSE:UGI), on February 14, 2025, announced that its wholly owned subsidiary, AmeriGas Propane, L.P., has entered into a Second Amendment to its Revolving Credit and Security Agreement. This amendment revises the subsidiary’s previously dated agreement of August 2, 2024, and brings significant changes to the existing minimum liquidity covenant.

A key change brought about by the amendment concerns the calculation of liquidity. Beginning 91 days prior to the earliest stated maturity date of any 2025 Senior Notes, liquidity calculations will include the aggregate amount of cash held in the U.S. accounts of AmeriGas Partners, L.P. This shift steers UGI toward adopting a more comprehensive approach in its financial management strategy.

The divulged information regarding the amendment also pertains to the creation of a direct financial obligation, underlining UGI’s commitment to maintaining robust and transparent financial operations.

The amended agreement aims to enhance UGI Corporation’s financial management by incorporating a more holistic view of its liquidity position, thus providing better safeguards for its financial stability.

For a thorough understanding of the amendment, reference can be made to Exhibit 10.1 of the Current Report on Form 8-K, where the full text of the amended agreement is available. The company filed the second Amendment to the Revolving Credit and Security Agreement with the U.S. Securities and Exchange Commission (SEC) in accordance with its regular reporting requirements.

UGI Corporation is a publicly traded company with the symbol UGI on the New York Stock Exchange (NYSE). Based in Pennsylvania, the company has a notable presence in the energy sector with operations focusing primarily on the distribution, storage, transport, and marketing of energy products and services.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read UGI’s 8K filing here.

About UGI

UGI Corporation, together with its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations.