Daily News: August 14, 2019

Credit Suisse Agents New $700MM Term Loan for UGI Energy


UGI Energy Services closed a new seven-year $700 million secured term loan B facility priced at LIBOR + 3.75%.

Proceeds from the facility, along with corporate liquidity, will be used for the long-term financing of the acquisition of the equity interests of Columbia Midstream Group from a subsidiary of TC Energy Corporation for approximately $1.275 billion, which closed on August 1, 2019.

Credit Suisse served as administrative agent and collateral agent for the transaction. The joint bookrunners and joint lead arrangers are Credit Suisse Loan Funding, JP Morgan Chase Bank, Citizens Bank, PNC Capital Markets and Wells Fargo.

UGI Corporation is a distributor and marketer of energy products and services.