Business & Finance
Business and Finance
Business and Finance
Thu, January 20, 2011 AmeriGas Partners Announces Successful Completion of Consent Solicitation, Closing of $470 Million 6.50% Senior Note Offering
VALLEY FORGE, Pa.--([ BUSINESS WIRE ])--AmeriGas Partners, L.P. (NYSE:APU), (the "Partnership") and AmeriGas Finance Corp. announced today that as of 5:00 p.m. New York City time on January 19, 2011 (the aConsent Deadlinea), holders of approximately $327.9 million in aggregate principal amount, representing approximately 79%, of their outstanding Series A (CUSIP Number: 030981AC8) and Series B (CUSIP Number: 030981AD6) 7.25% Senior Notes due 2015 (the "Notes") had validly tendered Notes and delivered consents in connection with the Partnership's tender offer and consent solicitation (the aTender Offera), which the Partnership commenced on January 5, 2011. Total consideration of $1,039.50 for each $1,000 principal amount of Notes, plus accrued and unpaid interest, was paid today to the holders of the Notes tendered and accepted for payment. In addition, the amendments to the indenture under which the Notes were issued contained in the supplemental indenture executed on January 19, 2011, which eliminated substantially all of the restrictive covenants and certain events of default and amended certain other provisions of the indenture, became effective upon acceptance for payment of the Notes tendered. As previously announced, the Tender Offer is scheduled to expire at 11:59 P.M. New York City time, on February 2, 2011, unless extended by the Partnership. Notes tendered after the Consent Deadline may not be withdrawn.
Additionally, the Partnership and AmeriGas Finance Corp. announced today the closing of their previously announced issuance of $470 million aggregate principal amount of their 6.50% Senior Notes Due 2021 (the aNotes Offeringa). The closing of the Notes Offering was a condition to the Partnershipa™s obligation to purchase Notes tendered in the Tender Offer, and the proceeds of the Notes Offering were used in part to pay the purchase price for Notes tendered.
This announcement is not an offer to purchase, a solicitation of an offer to sell or a solicitation of consent with respect to any Notes. The full terms of the tender offer and the consent solicitation are set forth in the Partnership's Offer to Purchase and Consent Solicitation Statement, dated January 5, 2011, and in the related Consent and Letter of Transmittal.
In connection with the tender offer and consent solicitation the Partnership has retained Credit Suisse Securities (USA) LLC (aCredit Suissea) as the coordinating dealer manager and solicitation agent and J.P. Morgan Securities LLC, RBS Securities Inc. and Wells Fargo Securities, LLC as co-dealer managers and solicitation agents. Questions regarding the tender offer and consent solicitation should be directed to Credit Suisse at 800-820-1653 (toll free) or 212-538-2147. Requests for documents should be directed to D.F. King & Co., Inc., the Information Agent for the tender offer and consent solicitation, at 800-848-2998 (toll free) or 212-493-6996.
About AmeriGas Partners, L.P.
AmeriGas Partners is the nation's largest retail propane marketer, serving approximately 1.3 million customers in all 50 states from nearly 1,200 distribution locations.
