UGI CORP /PA/ (UGI) Form 8-K — Oct 2, 2026
On September 28, 2026, Mountaineer Gas Company, an indirect wholly owned UGI Corporation subsidiary, closed a private placement of $50 million in senior notes: $30 million of 5.95% Series H Notes due 2038 and $20 million of 6.05% Series I Notes due 2041. Proceeds will be used primarily to refinance existing indebtedness and for general corporate purposes. The unsecured notes carry customary covenants including a 0.65x debt-to-capitalization cap, 2.0x minimum interest coverage, and a $70 million minimum consolidated tangible net worth.
Key figures
- Debt Amount
- 50000000
- Interest Rate
- 5.95% (Series H) / 6.05% (Series I)
- Maturity Date
- September 28, 2038 (Series H); September 28, 2041 (Series I)
- Funding date
- September 28, 2026
- Pricing date
- June 30, 2026
- Series h principal
- $30,000,000
- Series i principal
- $20,000,000
- Debt to cap covenant
- 0.65 to 1.00
- Min tangible net worth covenant
- $70 million
- Ebita interest coverage covenant
- 2.00 to 1.00
AI analysis
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