Star Gas Partners, L.P. and Star Gas Finance Company Announce Completion of Exchange Offer for Their 10-1/4% Senior Notes Due 2013.Energy Editors/Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--July 17, 2003 Star Gas Partners, L.P. (the "Partnership" or "Star") (NYSE NYSE See: New York Stock Exchange :SGU SGU Swiss German University (Jakarta, Indonesia) SGU South Gujarat University (Gujarat, India) SGU Symbol Generator Unit SGU Saint George's University (Island of Grenada) ) (NYSE:SGH SGH Singapore General Hospital SGH Sunglass Hut SGH Simpson Gumpertz & Heger Inc SGH Szkola Glowna Handlowa (Warsaw School of Economics, Poland) SGH Seattle Grace Hospital (TV show Grey's Anatomy) ) and its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Star Gas Finance Company, announced today that $200 million of their outstanding 10-1/4% Senior Notes due 2013, representing 100% of the outstanding senior notes, have been validly tendered and accepted in exchange for registered, publicly tradable notes with substantially identical terms. The exchange offer terminated at 5 p.m. (EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT ) on July 16, 2003. The notes had been issued on February 6, 2003 in a Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. offering to qualified institutional buyers. Star Gas Partners, L.P. is a leading distributor of home heating oil, propane and deregulated natural gas and electricity. Star Gas Partners, L.P. is the nation's largest retail distributor of home heating oil and the nation's seventh largest retail propane distributor. Star Gas Partners. L.P., through its wholly owned subsidiary Total Gas & Electric, also sells natural gas and electricity in the Northeast, Mid-Atlantic and Florida. This news announcement contains certain forward-looking information that is subject to certain risks and uncertainties as indicated from time to time in Star Gas Partners, L.P.'s 10-K, 10-Q, 8-K and other filings with the Securities and Exchange Commission. Included risks and uncertainties are the effects of the weather on Star Gas Partners, L.P.'s financial results, competitive and propane and heating oil pricing pressures and other factors impacting the propane, home heating oil, natural gas and electricity distribution industries. |
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