February 01, 2015 6:51 AM ET

Gas Utilities

Company Overview of AmeriGas Propane, L.P.

Company Overview

AmeriGas Propane, L.P. markets propane and propane equipment. The company supplies bulk propane to residential, commercial, and agricultural customers, as well as fills, distributes, and markets propane exchange tanks. Its customers use propane in the areas of home heating, space heating, water heating, pool/spa heating, drying, cooking, grilling, and motor fuel. The company was incorporated in 1994 and is based in King of Prussia, Pennsylvania. AmeriGas Propane, L.P. operates as a subsidiary of AmeriGas Partners LP.

460 North Gulph Road

King of Prussia, PA 19406

United States

Founded in 1994

Phone:

610-337-7000

Fax:

610-992-3259

Key Executives for AmeriGas Propane, L.P.

Senior Vice President of Sales and Operations
Chief Financial Officer and Vice President - Finance of Amerigas Propane
Age: 50
Compensation as of Fiscal Year 2014.

AmeriGas Propane, L.P. Key Developments

AmeriGas Propane, L.P. and Amerigas Propane, Inc. Enters into Amended and Restated Credit Agreement

On June 18, 2014, AmeriGas Propane, L.P., a Delaware limited partnership and the operating partnership of AmeriGas Partners, L.P. and AmeriGas Propane, Inc., a wholly owned subsidiary of UGI Corporation and the general partner of the Partnership and the Operating Partnership, entered into an Amended and Restated Credit Agreement by and among the Operating Partnership, as Borrower, the General Partner, as a Guarantor thereunder, Wells Fargo Bank, National Association, as Administrative Agent, Swingline Lender, and Issuing Lender, Wells Fargo Securities, LLC, as Sole Lead Arranger and Sole Book Manager, Credit Suisse, AG, Cayman Islands Branch, JPMorgan Chase Bank, N.A., Citizens Bank of Pennsylvania, PNC Bank, National Association, Branch Banking and Trust Company, Citibank, N.A., The Bank of New York Mellon, Bank of America, N.A., Manufacturers and Traders Trust Company, Santander Bank, N.A., TD Bank, N.A., and the other financial institutions from time to time party thereto. Among other things, the Credit Agreement decreases the Applicable Margin with respect to Loans, such that, based upon the current Consolidated MLP Total Leverage Ratio, Loans are either priced at 2.00% over LIBOR or 1.00% over Base Rate, increases the Swingline Commitment to $40 million from $30 million, increases the aggregate New Loan Revolving Credit Commitment to $300 million from $150 million, resets the Consolidated MLP Total Leverage Ratio at 5.50 to 1.00, excludes unrealized gains and losses attributable to Hedge Agreements from the definition of Consolidated Net Income, and extends the Revolving Credit Maturity Date to June 18, 2019 from October 15, 2016.

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