Suburban Propane Completes $350 Million Senior Notes Offering
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Successful Financing: Suburban Propane has completed a $350 million offering of 6.500% Senior Notes, which is expected to strengthen the company's capital structure and support future financial flexibility.
- Clear Use of Proceeds: The net proceeds of approximately $344.3 million will be used to redeem the 5.875% Senior Notes due 2027, thereby reducing future interest burdens.
- Redemption Plan Implementation: The company has deposited sufficient funds with the trustee to redeem all outstanding 2027 Senior Notes on January 7, 2026, ensuring financial stability.
- Clear Market Positioning: As a nationwide distributor of propane and renewable energy, Suburban Propane continues to focus on low-carbon energy solutions, enhancing its competitiveness in the energy market.
SPH
$18.68+Infinity%1D
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About SPH
Suburban Propane Partners, L.P. is a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and investor in low carbon fuel alternatives. The Company's segments include propane, fuel oil and refined fuels, natural gas and electricity, and all other. The propane segment is engaged in the retail distribution of propane and renewable propane to residential, commercial, industrial, agricultural and government customers and, to a lesser extent, wholesale distribution to large industrial end users. The fuel oil and refined fuels segment is engaged in the retail distribution of fuel oil, diesel, kerosene and gasoline. The natural gas and electricity segment is engaged in the marketing of natural gas and electricity to residential and commercial customers in the deregulated energy markets of New York and Pennsylvania. The all other segment includes its service business.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
