UGI Corporation announced on October 16, 2026, that it has entered into an amendment to a long-standing receivables financing agreement. The filing details the agreement between UGI Energy Services, LLC (UGIES), an indirect wholly owned subsidiary of UGI Corporation, and PNC Bank, National Association, acting as the issuer and administrator.
The amendment, titled Amendment No. 27, modifies the Receivables Purchase Agreement (RPA) originally dated November 30, 2001. The primary change disclosed is the extension of the Facility Termination Date. Originally set to expire on October 16, 2026, the termination date has been pushed back to October 15, 2027.
Under the terms of the RPA, UGIES transfers trade accounts receivable to Energy Services Funding Corporation (ESFC), a special purpose subsidiary of UGIES. ESFC then sells an undivided interest in these receivables to PNC. The filing notes that the RPA and a related Purchase and Sale Agreement are secured by the receivables pool, the related security, collections, and lock-box accounts used for remitting proceeds.
The amendment includes customary representations, warranties, affirmative and negative covenants, and indemnifications for both ESFC as seller and UGIES as servicer. The filing also references the existence of customary termination events, including nonpayment of amounts due, incorrect representations, failure to comply with covenants, and changes of control of UGIES or ESFC.
The amendment is filed as Exhibit 10.1 to this Current Report on Form 8-K.
