Suburban Propane Partners, L.P. (NYSE: SPH) announced the intention to offer $350,000,000 aggregate principal amount of senior notes due in 2035.
The offering is set to be made in a private placement not registered under the Securities Act of 1933.
The net proceeds from the offering, along with borrowings under the revolving credit facility, will be utilized to redeem all outstanding 5.875% senior notes due in 2027.
Offering Details
Proposed private offering of $350,000,000 aggregate principal amount of senior notes due in 2035
Issuers
Suburban Propane and Suburban Energy Finance Corp. will co-issue the 2035 Senior Notes
Offering Restrictions
The 2035 Senior Notes will be offered to qualified institutional buyers in the U.S. and to non-U.S. persons in compliance with Regulation S
Registration Status
The 2035 Senior Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction
- The offering aims to manage the company's debt structure and enhance financial flexibility.
- Redeeming the outstanding senior notes due in 2027 will streamline the company's debt obligations and potentially reduce financing costs.
Suburban Propane's announcement of the private offering of senior notes demonstrates strategic financial planning to optimize capital utilization and maintain a strong financial position in the market.