UGI Corporation (NYSE: UGI) announced that its subsidiary UGI International, LLC priced an offering of €300 million in aggregate principal amount of 5.000% senior notes due 2031.

The notes are being offered to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S. The offering is expected to close on or about May 21, 2026, subject to customary closing conditions.

The notes will be guaranteed by certain subsidiaries of UGI International that guarantee the company's existing €300 million senior unsecured term loan facility and €500 million senior unsecured revolving credit facility. The notes will not be guaranteed by UGI Corporation.

UGI International plans to use the net proceeds to repay short-term borrowings under its revolving credit facility associated with a dividend payment to UGI Corporation, which was contributed to AmeriGas Partners, L.P. Part of the proceeds are expected to be used by AmeriGas to repay an intercompany loan owed to UGI International. Additional proceeds will repay other amounts under the revolving credit facility, partially prepay the term loan, pay related fees and expenses, with the remainder used for general corporate purposes.

The company stated that if UGI International does not receive some or all of the expected repayment amounts on the intercompany loan, it would decrease intended repayments under the revolving credit facility and term loan accordingly.

The notes and guarantees will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.