This is a routine one-year extension of an existing receivables securitization facility with no change in size or terms. No material impact on UGI's financial position or stock expected. Monitor for any future amendments that adjust the facility size or pricing.
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Executive Summary
UGI entered into Amendment No. 27 to its existing Receivables Purchase Agreement (RPA) with PNC Bank, extending the Facility Termination Date by one year from October 16, 2026 to October 15, 2027. This is a routine renewal of a long-standing trade receivables securitization facility that provides UGI's energy services subsidiary with working capital liquidity. The amendment also includes updates to the fee letter and a new deposit account control agreement, but no material changes to the facility size or economic terms were disclosed.
Key Financial Metrics
Key Facts
- Amendment No. 27 to the Receivables Purchase Agreement (RPA) dated October 16, 2026
- Facility Termination Date extended from October 16, 2026 to October 15, 2027
- Parties: Energy Services Funding Corporation (seller), UGI Energy Services, LLC (servicer), PNC Bank (issuer/administrator), PNC Capital Markets LLC (structuring agent)
- Concurrent entry into a Twenty-First Amended and Restated Fee Letter and a Deposit Account Control Agreement
- The RPA is a receivables purchase facility where UGIES transfers trade accounts receivable to ESFC, which sells undivided interests to PNC
- Seasonal commitment maximum of $200,000,000 and non-seasonal maximum of $125,000,000
- Minimum Purchase Limit of $20,000,000
Financial Impact
No new capital raised or material change to facility economics disclosed; the extension maintains existing liquidity access for another year.
Risk Factors
- If UGI's credit quality deteriorates, the facility could be terminated early upon a termination event
- The facility is secured by trade receivables; a significant deterioration in receivable quality could reduce available liquidity
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-118169 |
| Document: ugi-20261016x8k.htm | 0001104659-26-118169 |
| Document: 0001104659-26-118169-index-headers.html | 0001104659-26-118169 |
| Document: 0001104659-26-118169-index.html | 0001104659-26-118169 |
| Document: 0001104659-26-118169.txt | 0001104659-26-118169 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 5d ago | 8-K | $38.49 | awaiting T+60 | — | $39.26 (+2.00%) |
Oct 19, 2026 8d ago | Institutional Cluster | $38.05 | awaiting T+60 | — | $39.26 (+3.19%) |
Oct 2, 2026 25d ago | 8-K | $36.78 | awaiting T+60 | — | $39.26 (+6.74%) |
Jul 7, 2026 16w ago | 8-K | $35.59 $36.36 | ▲ +2.16% | ▼ −0.33% | $39.26 (+10.31%) |
Jun 19, 2026 18w ago | Institutional Cluster | $33.79 $37.81 | ▲ +11.90% | ▲ +10.15% | $39.26 (+16.19%) |
May 26, 2026 22w ago | 8-K | $35.76 $38.39 | ▲ +7.36% | ▲ +4.89% | $39.26 (+9.80%) |
May 22, 2026 22w ago | 8-K | $35.76 $38.39 | ▲ +7.36% | ▲ +4.89% | $39.26 (+9.80%) |
May 13, 2026 23w ago | 8-K | $33.99 $33.89 | ▼ −0.29% | ▼ −3.62% | $39.26 (+15.52%) |
May 12, 2026 24w ago | 8-K | $32.99 $34.17 | ▲ +3.58% | ▼ −0.54% | $39.26 (+19.02%) |
May 11, 2026 24w ago | 8-K | $32.99 $34.17 | ▲ +3.58% | ▼ −0.54% | $39.26 (+19.02%) |
US Market Status
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