Reported Earlier, UGI Prices Upsized $610M 5.00% Convertible Senior Notes Due 2028 Offering
Portfolio Pulse from Benzinga Newsdesk
UGI Corporation has announced the pricing of an upsized $610 million offering of 5.00% Convertible Senior Notes due 2028. These notes are senior, unsecured obligations and will accrue interest at a rate of 5.00% per annum, payable semi-annually. The notes will mature on June 1, 2028, unless repurchased or converted earlier.
June 07, 2024 | 6:45 am
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UGI Corporation has priced an upsized $610 million offering of 5.00% Convertible Senior Notes due 2028. This move will provide the company with additional capital but also increases its debt obligations.
The issuance of convertible senior notes will provide UGI with additional capital, which can be positive for growth and operations. However, it also increases the company's debt obligations, which could be a concern for investors. The overall short-term impact on the stock price is likely to be neutral as the benefits of additional capital are balanced by the increased debt.
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