OVERLAND PARK, Kan.,
March 14, 2011 /PRNewswire/ --
Ferrellgas Partners, L.P. (NYSE: FGP) (the "Partnership") today
announced the commencement of an underwritten registered public
offering of 4,400,000 common units representing limited partner
interests. Ferrellgas Partners, L.P. intends to grant the
underwriters an option to purchase up to an additional 660,000
common units to cover over-allotments, if any. Ferrellgas
Partners, L.P. intends to use the net proceeds from the offering
and the related capital contribution made to it by its general
partner to fund the optional redemption of up to 35% of the
aggregate principal amount of its 8.625% Senior Notes due 2020 at a
redemption price of 108.625% of the aggregate principal amount of
the notes redeemed, plus accrued and unpaid interest, if any, to
the redemption date. The common units will be issued pursuant
to a prospectus supplement to the prospectus filed as a part of
Ferrellgas Partners, L.P.'s effective shelf registration statement
on Form S-3 (File No. 333-157760).
BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities are
acting as joint book-running managers of the offering. A copy
of the preliminary prospectus supplement and base prospectus
relating to the offering may be obtained from the following
addresses:
BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attn: Prospectus
Department or email dg.prospectus_requests@baml.com; J.P. Morgan
Securities LLC, Broadridge Financial Solutions, 1155 Long Island
Ave., Edgewood, NY 11717 or
telephone: (866) 803-9204; Wells Fargo Securities, LLC, 375 Park
Avenue, New York, NY 10152 (Attn:
Equity Syndicate, (800) 326-5897 or
cmclientsupport@wellsfargo.com).
This press release does not constitute a notice of redemption or
an obligation to issue a notice of redemption. This press
release does not constitute an offer to sell or a solicitation of
an offer to buy any securities, nor shall there be any offer,
solicitation or sale of securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. The offering is being made only through the
prospectus supplement and accompanying base prospectus, which is
part of Ferrellgas Partners, L.P.'s effective shelf registration
statement on Form S-3 (File No. 333-157760).
About Ferrellgas Partners, L.P.
Ferrellgas Partners, L.P. is a leading distributor of propane
and related equipment and supplies to customers primarily in
the United States.
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 Partnership expects, believes or anticipates will or may
occur in the future are forward-looking statements. These
statements include the Partnership's plans to complete a public
offering of 4,400,000 common units representing limited partner
interests. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the
control of the Partnership, including market conditions,
operational developments with respect to the Partnership and other
factors detailed in the Partnership's filings with the Securities
and Exchange Commission.
Contact:
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Tom Colvin, Investor Relations,
913-661-1530
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Scott Brockelmeyer, Media
Relations, 913-661-1830
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SOURCE Ferrellgas Partners, L.P.