Suburban Propane Partners prices offering of $250 million in senior notes

Suburban Propane Partners prices $250M note offer

WHIPPANY, N.J. — Propane and fuel distributor Suburban Propane Partners has priced an offering of senior notes at $250 million.

The sale of the 7.375 percent senior notes is expected to close on March 23, the company said Wednesday.

Suburban Energy Finance Corp., a subsidiary of Suburban, is the co-issuer of the 10-year notes.

Proceeds will be used to fund the company’s tender offer for all of its outstanding 6.875 percent senior notes due 2013 that was launched Tuesday.

Suburban shares rose 20 cents to $47 in afternoon trading.