Whippany-based Suburban Propane Partners said Dec. 8 that it intends to offer $350 million in aggregate principal amount of senior notes due 2035 in a private placement.
Suburban Energy Finance Corp., a wholly owned direct subsidiary of Suburban Propane, will serve as the co-issuer of the 2035 senior notes.
Suburban Propane intends to use the net proceeds from the offering, together with borrowings under its revolving credit facility, to redeem all the outstanding $350 million aggregate principal amount of the Issuers’ 5.875% senior notes due 2027. This financial move is intended to manage the company’s debt obligations and demonstrate its commitment to financial stability and growth.
The 2035 senior notes will be offered only in the United States to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act; and outside the United States to persons other than “U.S. persons” in compliance with Regulation S under the Securities Act.
The senior notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the benefit of U.S. persons, except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.
Suburban Propane Partners is a publicly traded master limited partnership listed on the New York Stock Exchange. Suburban has been in the customer service business since 1928 and is a nationwide distributor of propane, renewable propane, renewable natural gas, fuel oil and related products and services, as well as a marketer of natural gas and electricity and producer of and investor in low carbon fuel alternatives, servicing the energy needs of approximately 1 million residential, commercial, governmental, industrial and agricultural customers through about 750 locations across 42 states.
Suburban Propane Partners shares have risen 11.9% in 2025 on the New York Stock Exchange and the company has a market cap of $1.27 billion.
