Ferrellgas Partners, L.P. Announces Closing of Private Placement of $175 Million of 8.625% Senior Notes Due 2020
January 30 2017 - 12:02PM
Ferrellgas Partners, L.P. (NYSE:FGP) and its wholly-owned
subsidiary Ferrellgas Partners Finance Corp. today announced the
closing of their previously announced private placement of $175
million in aggregate principal amount of 8⅝% Senior Notes due 2020.
The notes were issued at a price of 96.0% of par, plus
accrued interest from December 15, 2016. Ferrellgas Partners,
L.P. and Ferrellgas Partners Finance Corp. received net proceeds
from the offering of approximately $164.2 million, after deducting
the initial purchasers’ discount and expenses of the offering.
Ferrellgas Partners, L.P. used the net proceeds from the offering
to repay borrowings under its operating partnership’s secured
credit facility.
The securities sold 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 were offered and sold only to
persons reasonably believed to be qualified institutional buyers
pursuant to Rule 144A under the Securities Act and outside the
United States 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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