BB&T Capital Markets Serves as Co-Manager for Suburban Propane’s $350 Million 5.875% Offering of Senior Notes due 2027
On February 7, 2017, BB&T Capital Markets served as a co-manager for an offering of $350 million 5.875% senior notes due 2027 by Suburban Propane Partners and Suburban Energy Finance Corporation.
Proceeds from the offering are being used to fund the purchase of the 2021 notes and for general corporate purposes.
About the Companies
Suburban Propane Partners, L.P., through its subsidiaries, engages in the retail marketing and distribution of propane, fuel oil, and refined fuels. The company offers propane primarily for space heating, water heating, cooking, and clothes drying in the residential and commercial markets; and often for use as a motor fuel to industrial customers. The company’s Natural Gas and Electricity segment markets natural gas and electricity to residential and commercial customers in the deregulated energy markets in New York and Pennsylvania. As of September 24, 2016, it served approximately 1.1 million residential, commercial, industrial, and agricultural customers through 675 locations in 41 states in the U.S. Suburban Energy Services Group LLC serves as a general partner of Suburban Propane Partners, L.P. The company was founded in 1945 and is based in Whippany, New Jersey.
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.