Suburban Propane Partners Announces $525 Mln Senior Notes Offering

(RTTNews) - Suburban Propane Partners, L.P. (SPH) said Monday that it plans to publicly offer $525 million aggregate principal amount of senior notes due 2024.

Suburban Energy Finance Corp., a wholly-owned direct subsidiary of Suburban, will serve as the co-issuer of the notes.

Suburban said it plans to use the net proceeds from the offering, along with cash on hand, to fund a cash tender offer for any and all of its $496.6 million of outstanding indebtedness under its 7 1/2 % senior notes due 2018, including fees and expenses associated with the cash tender offer.

Simultaneously with the launch of the offering of 2024 Senior Notes, Suburban launched a cash tender offer for its 2018 Senior Notes.