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Ferrellgas, L.P. Announces Closing of Senior Notes Offering and Entry Into Credit Agreement Amendment
Ferrellgas, L.P. Announces Closing of Senior Notes Offering and Entry Into Credit Agreement Amendment.
About this update from Ferrellgas Partners, L.p.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Ferrellgas, L.P. Announces Closing of Senior Notes Offering and Entry Into Credit Agreement Amendment\r\n \r\n \r\n\r\n\r\nFerrellgas, L.P. Announces Closing of Senior Notes Offering and Entry Into Credit Agreement Amendment\r\n\r\n\r\n\r\n\r\n\r\nLIBERTY, Mo., Oct. 27, 2025 (GLOBE NEWSWIRE) -- Ferrellgas, L.P. (the “Company”) and its wholly-owned subsidiary Ferrellgas Finance Corp. (together with the Company, the “Issuers”) announced today that the Issuers completed their previously announced offering of $650.0 million aggregate principal amount of 9.250% senior notes due 2031 (the “Notes”) at an offering price equal to 100% of the principal thereof. The Notes are senior obligations of the Issuers and are guaranteed on a senior unsecured basis by Ferrellgas, Inc., and each existing and future subsidiary of the Company, subject to certain exceptions. The Issuers used the net proceeds received from the offering of the Notes, together with cash on hand, to redeem all of the Issuers’ 5.375% Senior Notes due 2026. The Company also announced today that it entered into a Seventh Amendment to its Credit Agreement (the “Seventh Amendment”) among the Company, Ferrellgas, Inc. (the Company’s general partner), certain subsidiary guarantors, JPMorgan Chase Bank, N.A., as administrative agent and collateral agent and certain lenders and issuing lenders party thereto. The Seventh Amendment, among other things, extends the maturity of the Credit Agreement to October 2028 and increases the maximum amount available for borrowing under the Credit Agreement to $350 million, with availability subject to a periodic borrowing base calculation, and an accordion feature allowing for increases in the size of the facility by up to $50 million in the aggregate subject to customary conditions. Tamria Zertuche, Chief Executive Officer and President, said, “I am pleased to announce this significant milestone, which gives us the financial flexibility for our long-term strategic growth initiatives. With near-term maturities addressed and support from our lenders, these transactions strengthen our balance sheet and financial position for the future. We are proud to be an employee-owned company, that makes this transaction especially meaningful, it acknowledges the tr...