Davis Polk advised the joint book-running managers of an SEC-registered offering by co-issuers AmeriGas Partners, L.P. and AmeriGas Finance Corp. of $675 million aggregate principal amount of 5.625% senior notes due 2024 and $675 million aggregate principal amount of 5.875% senior notes due 2026.

Davis Polk also advised the dealer manager in connection with AmeriGas Partners’ concurrent cash tender offers to purchase any and all of the outstanding 6.250% senior notes due 2019, 6.750% senior notes due 2020 and 6.500% senior notes due 2021. The concurrent cash tender offers were funded with the proceeds of the notes offering.

Based in King of Prussia, Pennsylvania, AmeriGas Partners is a publicly traded limited partnership and the largest retail propane distributor in the United States based on the volume of propane gallons distributed annually. AmeriGas Partners serves approximately 2 million residential, commercial, industrial, agricultural, wholesale and motor fuel customers in all 50 states from approximately 2,000 propane distribution locations.

The Davis Polk capital markets team included partner Michael Kaplan, counsel Derek Dostal and associates Stephanie M. Rohlfs and Andrew J. Terjesen. The tax team included partner Michael Farber and associate Dao Fu. Counsel Betty Moy Huber and associate Yuko Masunaga provided environmental advice. All members of the Davis Polk team are based in the New York office.

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