Ferrellgas Partners, L.P. Announces Proposed Private Placement of $150 Million of 8⅝% Senior Notes Due 2020
January 23 2017 - 8:41AM
Ferrellgas Partners, L.P. (NYSE:FGP) and its wholly-owned
subsidiary Ferrellgas Partners Finance Corp. (together, the
“Issuers”) today announced their intention to commence a private
placement to eligible purchasers of $150 million in aggregate
principal amount of their 8⅝ Senior Notes due 2020. This
offering constitutes a further issuance of the Issuers’ 8⅝% Senior
Notes due 2020 first issued on April 13, 2010, of which $182
million aggregate principal amount is outstanding prior to this
offering. The notes to be offered in this offering will be
treated as a single series with the previously issued notes but,
until these notes are registered, or if these notes are issued with
original issue discount for U.S. federal income tax purposes, will
have a separate CUSIP number from that of the previously issued
notes and will not be fungible with the previously issued
notes. Ferrellgas Partners, L.P. intends to use the net
proceeds from the offering to repay borrowings under its operating
partnership’s secured credit facility.
The securities to be offered have not been
registered under the Securities Act of 1933, as amended (the
“Securities Act”), or any state securities laws and, absent such
registration, may not be offered or sold in the United States
except pursuant to an exemption from, or in a transaction not
subject to, the registration requirements of the Securities Act and
applicable state securities laws. The securities will be offered
and sold in the United States only to persons reasonably believed
to be qualified institutional buyers pursuant to Rule 144A under
the Securities Act and outside the United States only to non-U.S.
persons pursuant to Regulation S under the Securities Act.
This press release does not constitute an offer
to sell or a solicitation of an offer to buy the securities
described herein, nor shall there be any offer or sale of these
securities in any jurisdiction in which such an offer or sale would
be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
Contacts:
Jack Herrold, Investor Relations – jackherrold@ferrellgas.com, 913-661-1851
Jim Saladin, Media Relations – jimsaladin@ferrellgas.com, 913-661-1833
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