UGI Corp Files 8-K on Financial Obligation

Ticker: UGI · Form: 8-K · Filed: Nov 6, 2024 · CIK: 884614

Ugi CORP /Pa/ 8-K Filing Summary
FieldDetail
CompanyUgi CORP /Pa/ (UGI)
Form Type8-K
Filed DateNov 6, 2024
Risk Levelmedium
Pages3
Reading Time3 min
Key Dollar Amounts$100 m, $300 m, $75 m, $45 m
Sentimentneutral

Sentiment: neutral

Topics: material-definitive-agreement, financial-obligation

Related Tickers: UGI

TL;DR

UGI Corp just filed an 8-K about a new financial obligation. Keep an eye on this.

AI Summary

On October 31, 2024, UGI Corporation entered into a material definitive agreement related to a direct financial obligation. The filing indicates the creation of a direct financial obligation or an obligation under an off-balance sheet arrangement for the registrant. Specific details regarding the agreement, financial obligations, and associated parties are not fully disclosed in this initial filing.

Why It Matters

This filing signals a new financial commitment or obligation for UGI Corporation, which could impact its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a new financial obligation, which inherently carries some level of risk depending on the specifics of the agreement.

Key Players & Entities

FAQ

What is the nature of the material definitive agreement UGI Corporation entered into?

The filing states that UGI Corporation entered into a material definitive agreement on October 31, 2024, but the specific details of the agreement are not provided in this initial 8-K filing.

What type of financial obligation is being reported?

The filing indicates the creation of a 'Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant'.

When was the earliest event reported in this filing?

The earliest event reported in this filing occurred on October 31, 2024.

Where are UGI Corporation's principal executive offices located?

UGI Corporation's principal executive offices are located at 500 North Gulph Road, King of Prussia, PA 19406.

What is UGI Corporation's state of incorporation?

UGI Corporation is incorporated in Pennsylvania.

Filing Stats: 765 words · 3 min read · ~3 pages · Grade level 12.2 · Accepted 2024-11-06 16:31:34

Key Financial Figures

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On October 31, 2024, AmeriGas Propane, L.P. (the "Borrower"), a Delaware limited partnership and an indirect, wholly owned subsidiary of UGI Corporation, a Pennsylvania corporation, entered into that certain First Amendment to Revolving Credit and Security Agreement (the "Amendment"), by and among the Borrower, the lenders party thereto (collectively, the "Lenders") and PNC Bank, National Association, as agent for the Lenders (the "Agent"), which amended the Borrower's Revolving Credit and Security Agreement, dated as of August 2, 2024 (as amended, the "Credit Agreement"). The Amendment, among other items, increases the commitments under the Credit Agreement by an additional $100 million, to a total of $300 million, subject to the terms and conditions of the Credit Agreement. The maximum borrowings permitted to be made at any time under the Credit Agreement is equal to the lesser of (x) the Formula Amount for the borrowing base and (y) the Maximum Revolving Advance Amount. The Formula Amount for the borrowing base is equal to (a) the lesser of (i) 100% of qualified cash and (ii) $75 million, plus (b) the sum of 85% of eligible receivables plus 85% of eligible credit card receivables, plus (c) the lesser of (i) 65% of eligible consumer receivables and (ii) $45 million, plus (d) 80% of eligible inventory less (e) the maximum undrawn amount of all outstanding letters of credit less (f) reserves established by the Agent. The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth above in Item 1.01 regarding the Amendment is hereby incorporated into this Ite

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Number: Description 10.1 First Amendment to Revolving Credit and Security Agreement, dated October 31, 2024, by and among AmeriGas Propane, L.P., the lenders party thereto and PNC Bank, National Association, as agent. 104 Cover Page Interactive Data File (formatted as inline XBRL).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UGI Corporation November 6, 2024 By: /s/ Jessica A. Milner Name: Jessica A. Milner Title: Secretary

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