Suburban Propane Partners Successfully Completes $350 Million Senior Notes Offering

Suburban Propane Partners Achieves $350 Million Senior Notes Offering

Suburban Propane Partners, L.P., publicly traded under the NYSE symbol SPH, has recently announced the successful completion of its private offering of $350 million worth of 6.500% Senior Notes that are due in 2035. This strategic move is aimed at enhancing its financial position and providing additional capital to support its ongoing operations. The notes are designed for qualified institutional buyers as defined under Rule 144A of the Securities Act of 1933 and non-U.S. persons outside the United States under Regulation S.

In a statement released from the company's headquarters in Whippany, New Jersey, Suburban Propane outlined that the net proceeds from this offering, estimated at approximately $344.3 million after expenses, will be utilized to fund the redemption of all of their 5.875% Senior Notes due in 2027. This redemption process was already set in motion with a conditional notice sent on December 8, 2025, to the holders of the 2027 notes, with the scheduled redemption date set for January 7, 2026.

Suburban Propane, well-established since 1928, specializes as a nationwide distributor of propane and renewable energy products. The company aims to address the energy needs of nearly one million customers across residential, commercial, governmental, industrial, and agricultural sectors through approximately 750 locations spanning 42 states. Its diversified service offerings include not just propane, but also renewable natural gas, fuel oil, and innovative low carbon fuel alternatives.

The completion of this offering is aligned with Suburban Propane's commitment to operational excellence which is encapsulated in three core pillars: a commitment to excellence in customer service and safety, a dedication to community support through initiatives like SuburbanCares, and a focus on sustainable energy solutions such as renewable propane.

With this offering, the company aims to position itself strongly against changing market dynamics and increased competition in the energy sector. Investors have shown significant interest given the reputable track record and strong foundation on which Suburban Propane operates. The market is keenly observing how these changes will unfold, especially in the context of fluctuating natural gas prices and increasing demand for renewable energy sources.

Moreover, Suburban Propane has assured stakeholders that this offering does not constitute an invitation to sell or solicit investments in these securities, which remain unregistered under the Securities Act and applicable laws of other jurisdictions.

In summary, Suburban Propane Partners, L.P. has successfully navigated a potentially challenging landscape by ensuring access to capital through these senior notes. As the industry shifts towards more sustainable practices, the company aims to maintain its leadership position, leveraging its experience and commitment to customer service and community involvement. For more information on Suburban Propane's operations and commitments, interested parties can visit their official website at www.suburbanpropane.com.

The future looks promising for Suburban Propane as they embark on this new chapter, securing funding while continuing to invest in serving their customers and embracing greener energy solutions that align with global trends towards sustainability.