Recent Updates — UGI
UGI Energy Services extended the termination date of its Receivables Purchase Agreement with PNC Bank from October 16, 2026, to October 15, 2027. The amendment modifies the existing arrangement under which UGI transfers trade accounts receivable to a special purpose subsidiary for sale to PNC. This adjustment maintains access to liquidity through the ongoing securitization of receivables without altering the fundamental structure or recourse terms of the facility. UGI Corporation operates in the energy distribution and utility services industry, providing natural gas, propane, and related energy products.
On September 28, 2026, Mountaineer Gas Company, an indirect wholly owned subsidiary of UGI Corporation, entered into a Note Purchase Agreement for the private placement of $50 million in aggregate principal amount of senior notes. The issuance includes $30 million of 5.95% Senior Notes, Series H, maturing September 28, 2038, and $20 million of 6.05% Senior Notes, Series I, maturing September 28, 2041. Funding occurred on the agreement date, with semiannual interest payments due March 28 and September 28 each year. The unsecured notes rank pari passu with existing indebtedness and carry restrictive covenants, including a maximum total debt to total capitalization ratio of 0.65 to 1.00 and minimum consolidated tangible net worth of $70 million. Proceeds are primarily for refinancing indebtedness and general corporate purposes. UGI Corporation operates in the energy sector, providing natural gas distribution and related services.
UGI Utilities, Inc., a wholly owned subsidiary of UGI Corporation, entered into a Note Purchase Agreement on August 11, 2026, to privately place $125 million in aggregate principal amount of 5.45% Senior Notes maturing on August 15, 2031. Funding occurred immediately upon execution, with interest payable semiannually on February 15 and August 15. The unsecured notes rank pari passu with existing indebtedness and include standard covenants limiting asset sales to 15% of consolidated total assets, restricting additional liens to 10%, and maintaining a debt-to-capitalization ratio not exceeding 0.65 to 1.00. Proceeds are designated primarily for refinancing indebtedness and general corporate purposes. UGI Corporation operates in the energy distribution industry, providing natural gas and electric utility services.
UGI Corp approved the UGI Corporation Executive Short-Term Incentive Bonus Plan, effective October 1, 2026. This new plan supersedes previous executive annual bonus plans for the Company and its subsidiaries. It provides financial incentives as a percentage of base salary to selected senior-level employees who meet specific performance goals and service criteria. The filing does not disclose specific monetary amounts or individual officer names. UGI Corp operates in the energy distribution industry, providing natural gas and propane services.
UGI Corporation reported fiscal third quarter results for the period ended June 30, 2026. GAAP diluted EPS was $(0.62), compared to $(0.76) in the prior-year period, while adjusted diluted EPS was $(0.20) versus $(0.01). Year-to-date GAAP diluted EPS stood at $3.08 against $3.16 previously. Reportable segments generated year-to-date EBIT of $1,187 million, offsetting the impact of LPG divestitures and warmer weather. The company reaffirmed its fiscal 2026 adjusted diluted EPS guidance range of $2.75 to $2.90 per share. Additionally, UGI announced a settlement in its Pennsylvania gas base rate case, subject to regulatory approval, which permits a two-phase $65 million distribution rate increase effective October 2026 and October 2027. UGI Corporation operates as a distributor and marketer of energy products and services in the US and Europe.
UGI Energy Services, LLC, a subsidiary of UGI Corporation, entered into a Fourth Amendment to its Credit Agreement on June 30, 2026, adjusting the Applicable Rate to 2.00% per annum for SOFR Loans and 1.00% per annum for base rate loans. UGI Corporation is an energy services provider operating in the energy sector.