#Senior Notes #Suburban Propane #Financial Offering

Suburban Propane Partners Announces Senior Notes Offering

Suburban Propane Partners, L.P. publicly declared the pricing details of its new offering of senior notes, marking a significant financial milestone for the company. As of December 8, 2025, the organization has priced its $350 million aggregate principal amount of 6.500% senior notes, which will mature on December 15, 2035. The offering is a part of a private placement that is not registered under the Securities Act of 1933. The notes are offered at par, displaying confidence in the company's financial strategies.

The issuance of these senior notes is managed in partnership with Suburban Energy Finance Corp., a wholly-owned subsidiary of Suburban Propane. The closing of this sale is expected to occur on December 22, 2025, pending normal closing conditions. This move is anticipated to strengthen the company's balance sheet as it prepares for future investments and commitments in its operational roadmap.

Interest and Redemption Options

The notes will accrue interest at an annual rate of 6.500%, with interest payments scheduled bi-annually on June 15 and December 15, starting from June 15, 2026. Suburban Propane has outlined strategic redemption options for these notes prior to 2028, where it may redeem up to 35% of the principal amount using proceeds from specified common units offerings. The redemption price will be set at 106.500% of their principal amount, along with accrued interest, if applicable prior to the redemption date.

From December 15, 2030, onwards, the 2035 Senior Notes can also be redeemed under applicable redemption premiums, showcasing Suburban Propane's flexibility in managing its debt obligations. Additionally, before December 15, 2030, investors may redeem the notes at a