Business & Finance
Fri, March 30, 2012
VALLEY FORGE, Pa.--([ BUSINESS WIRE ])--AmeriGas Partners, L.P. (NYSE:APU) (the aPartnershipa) and AmeriGas Finance Corp. announced today that as of 5:00 p.m. New York City time on March 27, 2012 (the aEarly Participation Datea), holders of approximately $383.5 million in aggregate principal amount of their outstanding 6.50% Senior Notes due 2021 (CUSIP Number: 030981AF1) (the aNotesa) had validly tendered Notes in connection with the Partnership's offer to purchase for cash up to $200 million of the Notes (the aTender Offera), which the Partnership commenced on March 14, 2012.
As a result of the oversubscription of the Tender Offer, the Partnership has accepted for purchase tendered notes on a prorated basis in the manner described in the Partnershipas Offer to Purchase dated March 14, 2012. The following table sets forth the outstanding principal amount of Notes, the principal amount that had been tendered and not withdrawn as of the Early Participation Date, the principal amount accepted for purchase and the approximate proration factor:
| CUSIP/ISIN | Title of Security | Outstanding Principal Amount | Tender Cap | Aggregate Principal Amount Tendered and not Withdrawn | Aggregate Principal Amount Accepted for Purchase | Approximate Proration Factor | ||||||
| 030981AF1 US030981AF11 | 6.50% Senior Notes due 2021 | $470,000,000 | $200,000,000 | $383,455,000 | $199,999,000 | 52.3% | ||||||
Total consideration of $1,050.00 for each $1,000 principal amount of Notes, plus accrued and unpaid interest, is expected to be paid today, March 28, 2012 to the holders of Notes tendered and accepted for purchase (the aTotal Considerationa). The Total Consideration includes an early participation payment of $30.00 per $1,000 principal amount of Notes accepted for purchase. As a result of the oversubscription of the Tender Offer, the Partnership will purchase Notes validly tendered as of the Early Participation Date using the approximate proration factor of 52.3% and it will not purchase Notes tendered after the Early Participation Date.
In connection with the Tender Offer, AmeriGas Partners has retained Credit Suisse Securities (USA) LLC as the Dealer Manager. Questions regarding the Tender Offer 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, at 800-697-6975 (toll free) or 212-269-5550.
About AmeriGas Partners, L.P.
AmeriGas is the nationas largest retail propane marketer, serving over two million customers in all 50 states from over 1,200 locations.
