09:31 AM EDT, 06/06/2024 (MT Newswires) -- UGI (UGI) said Thursday it intends to offer $600 million principal amount of convertible senior unsecured notes due 2028 through a private offering.

The notes will mature on June 1, 2028, said the company, which plans to offer a 13-day option to the initial buyers to purchase up to a further $90 million principal amount of notes.

Net proceeds will be used to refinance UGI's existing debt and for general corporate purposes, the company said.

UGI shares were down 6.4% in recent Thursday trading.

Price: 22.99, Change: -1.57, Percent Change: -6.40