Suburban Propane falls on deal to buy renewable natural gas assets

Suburban Propane Partners

28/12/2022 15:53

** Shares of Suburban Propane Partners LP  SPH.N  down 1.2%
at $15.33
    ** Suburban to buy a platform of renewable natural gas (RNG)
assets from Equilibrium Capital Group  urn:newsml:reuters.com:*:nPnbCKs9Pa
    ** SPH says purchase price is $190 mln for the two operating
facilities, along with transaction fees and expenses
    ** Says deal will be funded with borrowings of ~$120 mln
under Suburban's revolving credit facility, and the assumption
of about $80 mln of outstanding green bonds
    ** The parties have formed a partnership to serve as a
long-term growth platform for the identification, development
and operation of additional RNG projects
    ** SPH up 4.6% so far this year
 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com; Twitter: https://twitter.com/Aru_Kumar94))