Ferrellgas, L.P. and Ferrellgas Finance Corp. Announce Closing of Offering of $150 Million 6.750% Senior Notes Due 2022
June 13 2014 - 11:13AM
Ferrellgas, L.P., the operating partnership of Ferrellgas Partners,
L.P. (NYSE:FGP), and Ferrellgas Finance Corp., a wholly-owned
subsidiary of Ferrellgas, L.P., today announced the closing of
their private placement offering of $150 million in aggregate
principal amount of 6.750% Senior Notes due 2022 at 104.00%, plus
accrued interest from November 4, 2013. This offering constitutes a
further issuance of Ferrellgas, L.P.'s and Ferrellgas Finance
Corp.'s 6.75% Senior Notes due 2022 first issued on November 4,
2013, in the aggregate principal amount of $325 million. The notes
in this offering form a single class and series with the previously
issued notes for all purposes under the indenture that governs the
6.75% Senior Notes due 2022 (including, without limitation,
waivers, amendments, redemptions and offers to purchase).
Ferrellgas, L.P. and Ferrellgas Finance Corp. received net proceeds
from this offering of approximately $153.1 million, after deducting
fees and expenses of the offering. Ferrellgas, L.P. and Ferrellgas
Finance Corp. will use the net proceeds from the offering for
general corporate purposes, including to repay indebtedness under
their secured credit facility, and to pay related transaction fees
and expenses.
The offering was not registered under the Securities Act of 1933
(the "Securities Act") or any state securities laws, and the notes
may not be offered or sold in the United States absent such
registration, 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 notes were
offered only to qualified institutional buyers under Rule 144A and
outside the United States only to non-U.S. persons under Regulation
S. This news release does not constitute an offer to sell or a
solicitation of an offer to buy any securities.
This news release includes "forward-looking statements" as
defined by the Securities and Exchange Commission. All statements,
other than statements of historical facts, included in this news
release that address activities, events or developments that the
issuers expect, believe or anticipate will or may occur in the
future are forward-looking statements. Such statements are subject
to a number of assumptions, risks and uncertainties, many of which
are beyond the control of the issuers, including market conditions,
operational developments with respect to the issuers and other
factors detailed in the issuers' filings with the Securities and
Exchange Commission.
CONTACT: Alan Heitmann, Investor Relations, 816-792-6879
Ferrellgas Partners (NYSE:FGP)
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