AmeriGas Partners and AmeriGas Finance Corp., subsidiaries of UGI Corporation (NYSE: UGI), announced plans to offer $500 million in senior notes due 2031, according to a company statement.

The notes will be offered to qualified institutional buyers under Rule 144A and to investors outside the United States under Regulation S of the Securities Act of 1933.

The companies plan to use proceeds from the offering, combined with $300 million in cash from a previous equity contribution and cash on hand, for debt refinancing activities. These include repurchasing all outstanding 5.750% senior notes due 2027 and up to $175 million of 9.375% senior notes due 2028.

AmeriGas also intends to repay $150 million in outstanding intercompany debt owed to UGI International, LLC and cover related transaction fees and expenses.

The notes will not be registered under the Securities Act and may only be sold through exemptions from registration requirements.

AmeriGas Partners operates as the largest retail propane marketer in the United States, selling approximately 800 million gallons of propane annually to over 1 million customers from about 1,390 locations as of September 2025.

The offering remains subject to market conditions and other factors. UGI Corporation distributes and markets energy products and services in the United States and Europe through various subsidiaries providing natural gas, electric generation, propane distribution and energy marketing services.