BB&T Serves as Co-Manager for AmeriGas Partners’ $1,350,000,000 Offering of Senior Notes in Two Tranches
On June 20, 2016, BB&T Capital Markets served as a co-manager for a $1,350,000,000 offering of senior notes by AmeriGas Partners, L.P./AmeriGas Finance Corp. The offering consisted of two tranches: a $675,000,000 tranche of 5.625% senior notes due 2024 and a $675,000,000 tranche of 5.875% senior notes due 2026. Proceeds from the offering were used to repay in full the issuers’ 6.250% Senior Notes due 2019 and 6.500% Senior Notes due 2021 and the 6.750% Senior Notes due 2020 issued by AmeriGas Finance and AmeriGas Finance LLC and guaranteed by AmeriGas Partners and for general corporate purposes.
About the Companies
AmeriGas Partners is a publicly traded limited partnership formed under Delaware law in 1994, and is the largest retail propane distributor in the United States based on the volume of propane gallons distributed annually. AmeriGas Propane, Inc. is its general partner and is responsible for managing its operations. AmeriGas Partners is a holding company, and conducts its business principally through its operating partnership, AmeriGas Propane, L.P.
AmeriGas serves approximately 2 million residential, commercial, industrial, agricultural, wholesale and motor fuel customers in all 50 states from approximately 2,000 propane distribution locations. In addition to distributing propane, AmeriGas also sells, installs and services propane appliances, including heating systems, and operates a residential heating, ventilation, air conditioning, plumbing, and related services business in certain counties of Pennsylvania, Delaware, and Maryland. Typically, AmeriGas is located in suburban and rural areas where natural gas is not readily available. AmeriGas’ local offices generally consist of a business office and propane storage. As part of its overall transportation and distribution infrastructure, AmeriGas operates as an interstate carrier in all states throughout the continental United States.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.