Note 8 — Debt

UGI Utilities

Pursuant to a Note Purchase Agreement, in October 2016, UGI Utilities issued $100 aggregate principal amount of 4.12% Senior Notes due October 2046 (the “UGI Utilities’ 4.12% Senior Notes”). The net proceeds of the issuance of the UGI Utilities’ 4.12% Senior Notes were used (1) to provide additional financing for UGI Utilities’ infrastructure replacement and betterment capital program and information technology initiatives and (2) for general corporate purposes. The UGI Utilities’ 4.12% Senior Notes are unsecured and rank equally with UGI Utilities’ existing outstanding senior debt.

AmeriGas Propane

In December 2016, AmeriGas Partners issued $700 principal amount of 5.50% Senior Notes due May 2025 (the “AmeriGas Partners’ 5.50% Senior Notes”). The AmeriGas Partners’ 5.50% Senior Notes rank equally with AmeriGas Partners’ existing outstanding senior notes. The net proceeds from the issuance of the AmeriGas Partners’ 5.50% Senior Notes were used in December 2016 for (1) the early repayment, pursuant to a tender offer, of a portion of AmeriGas Partners’ 7.00% Senior Notes having an aggregate principal balance of $500.0 plus accrued and unpaid interest and early redemption premiums; (2) the reduction of short-term borrowings; and (3) general corporate purposes.

In February 2017, AmeriGas Partners issued $525 principal amount of 5.75% Senior Notes due May 2027 (the “AmeriGas Partners’ 5.75% Senior Notes”). The AmeriGas Partners’ 5.75% Senior Notes rank equally with AmeriGas Partners’ existing outstanding senior notes. The net proceeds from the issuance of the AmeriGas Partners’ 5.75% Senior Notes were used in February 2017 for (1) the early repayment, pursuant to a tender offer, of a portion of AmeriGas Partners’ 7.00% Senior Notes having an aggregate principal balance of $378.3 plus accrued and unpaid interest and early redemption premiums; (2) the repayment of short-term borrowings; and (3) general corporate purposes.

In May 2017, AmeriGas Partners repaid the remaining AmeriGas Partners’ 7.00% Senior Notes not previously tendered, having an aggregate principal balance of $102.5, plus early redemption premiums and accrued and unpaid interest.

In connection with the early repayments of AmeriGas’ Senior Notes, during the three and nine months ended June 30, 2017 and 2016, the Partnership recognized pre-tax losses which are reflected in “Loss on extinguishments of debt” on the Condensed Consolidated Statements of Income and comprise the following:



	Three Months Ended June 30,				Nine Months Ended June 30,
	2017		2016		2017		2016
Early redemption premiums	$	3.6	$	30.4	$	51.3	$	30.4
Write-off of unamortized debt issuance costs	0.8		6.7		8.4		6.7
Loss on extinguishments of debt	$	4.4	$	37.1	$	59.7	$	37.1