Suburban Propane Partners, L.P. Extends Expiration Date of Exchange Offers in Connection with its Planned Acquisition of Inergy, L.P.'s Retail Propane Operations
Suburban Propane Partners, L.P. (NYSE: SPH), a nationwide distributor of propane, fuel oil and related products and services, as well as a marketer of natural gas and electricity, today announced that it and Suburban Energy Finance Corp. have extended the expiration date, in connection with their previously announced offers to exchange and related consent solicitations in connection with certain outstanding notes of Inergy, L.P.
Pursuant to the Exchange Offers, Suburban is offering to exchange any and all of the outstanding 7% Senior Notes due 2018 and 6 ⅞% Senior Notes due 2021 issued by Inergy and Inergy Finance Corp., which have an aggregate principal amount outstanding of $1.2 billion, for a combination of up to $1.0 billion in aggregate principal amount of new unsecured 7 ½% Senior Notes due 2018 and 7 ⅜% Senior Notes due 2021, respectively, issued by Suburban and up to $200.0 million in cash.
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