Energy Transfer Affiliate Set to Offer 8.5 Million AmeriGas Common Units

AmeriGas Partners said that Heritage ETC, an affiliate of Energy Transfer Partners, has commenced a public underwritten offering, subject to market and other conditions, of 8,500,000 AmeriGas common units that it currently holds.

According to a release, Citigroup, Morgan Stanley, UBS Investment Bank, Barclays, Credit Suisse, Deutsche Bank Securities, Goldman Sachs & Co., J.P. Morgan, RBC Capital Markets and Wells Fargo Securities will act as joint book-running managers for the common units offering. Ladenburg Thalmann & Co. will act as co-manager for the common units offering.

Pursuant to an option to purchase, the underwriters may purchase up to 1,242,362 additional common units from Heritage ETC, which would encompass all remaining units beneficially owned by Heritage ETC, except for the 3,125,000 AmeriGas common units that Heritage ETC transferred to Evergreen Assurance, a captive insurance company and indirect subsidiary of Energy Transfer Partners.

AmeriGas is a retail propane marketer.

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