According to an 8K filed with the SEC, JPMorgan Chase Bank served as administrative agent for an increase of $60 million to $260 million for the senior secured revolving credit facility of UGI Energy Services, a subsidiary of UGI Corporation. In addition, the maturity date of the facility was extended to March 2025.

PNC Bank served as syndication agent and Wells Fargo served as documentation agent for the transaction, according to the 8K. JPMorgan Chase Bank, PNC Capital Markets and Wells Fargo Securities served as joint bookrunners and joint lead arrangers, according to the 8K.

When combined with a separate note purchase agreement of $150 million by UGI Utilities, UGI Corporation has increased short-term liquidity by approximately $210 million.

“UGI’s philosophy has always been to practice sound balance sheet management and maintain strong liquidity. The completion of these two deals further strengthens our liquidity position at a crucial time,” John L. Walsh, president and CEO of UGI Corporation, said. “UGI Corporation’s balance sheet is positioned well to handle the challenges we are all facing as a result of COVID-19.”

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