Suburban Propane Partners, L.P. announced the completion of the issuance of $350 million 6.500% Senior Notes due 2035.
The net proceeds from the offering were approximately $344.3 million.
The funds will be used to redeem the 5.875% senior notes due 2027 and pay related fees and expenses.
Issuance Details
$350 million 6.500% Senior Notes due 2035 issued in a private offering to qualified institutional buyers and non-U.S. persons.
Net Proceeds
Approximately $344.3 million net proceeds after deducting estimated offering expenses.
Redemption Plan
Funds will be used to redeem all of the Issuers' 5.875% senior notes due 2027.
- The completion of the issuance strengthens Suburban Propane's financial position.
- Redemption of the 2027 senior notes will streamline the company's debt obligations.
Suburban Propane's successful completion of the issuance and redemption demonstrates strategic financial management and commitment to shareholder value.