The Firm recently represented the initial purchasers, led by BNP Paribas, in connection with the private placement of €400 million aggregate principal amount of 2.5% Senior Notes due 2029 of UGI International LLC (“UGI International”), a direct, wholly owned subsidiary of UGI Corporation. UGI International intends to use the net proceeds from the offering to redeem its existing senior notes in full and to pay fees and expenses related to the transactions, and the remainder will be used for general corporate purposes and/or distributed to its parent company.
UGI International, through subsidiaries and affiliates, conducts (i) an LPG distribution business in 17 countries throughout Europe (Austria, Belgium, the Czech Republic, Denmark, Finland, France, Hungary, Italy, Luxembourg, the Netherlands, Norway, Poland, Romania, Slovakia, Sweden, Switzerland and the United Kingdom), and (ii) an energy marketing business in France, Belgium, the Netherlands and the United Kingdom.
The Simpson Thacher team included Art Robinson, Patrick Baron and Asha Amin (Capital Markets); Michael Isby (Environmental); Michael Mann (Tax); Genevieve Dorment (Intellectual Property); and Pasco Struhs and Charles Pfeifer (ECEB).