Ferrellgas, L.P. Announces Closing of Senior Notes Offering and Entry Into Credit Agreement Amendment
Ferrellgas (OTC:FGPR) completed an offering of $650.0 million aggregate principal amount of 9.250% senior notes due 2031 at par and used proceeds plus cash on hand to redeem all its 5.375% senior notes due 2026. The new Notes are senior obligations and are senior unsecured–guaranteed by Ferrellgas and its subsidiaries, subject to exceptions.
The company also entered into a Seventh Amendment to its Credit Agreement that extends the facility maturity to October 2028, raises the maximum borrowing capacity to $350 million (subject to a borrowing base) and includes a $50 million accordion feature. Management said the actions address near‑term maturities and improve financial flexibility.
Ferrellgas (OTC:FGPR) ha completato un’offerta di 650,0 milioni di dollari in importo nominativo complessivo di note senior 9,250% a scadenza 2031 al valore nominale e ha utilizzato i proventi insieme alla liquidità disponibile per rimborsare tutte le note senior 5,375% a scadenza 2026. Le nuove obbligazioni sono obbligazioni privilegiate e sono non garantite – garantite da Ferrellgas e dalle sue filiali, salvo eccezioni.
La società ha inoltre stipulato un Seventh Amendment al suo Credit Agreement che estende la scadenza della linea fino a ottobre 2028, aumenta la capacità massima di prestito a 350 milioni di dollari (soggetta a base di prestito) e include una funzione di accordion di 50 milioni di dollari. Secondo la direzione, le azioni intraprese affrontano le scadenze a breve termine e migliorano la flessibilità finanziaria.
Ferrellgas (OTC:FGPR) completó una oferta por un monto total de 650,0 millones de dólares de títulos senior de 9,250% con vencimiento en 2031 al nominal y utilizó los ingresos, más efectivo disponible, para canjear todas sus títulos senior de 5,375% con vencimiento en 2026. Los nuevos Títulos son obligaciones senior y están garantizados sin garantía senior–garantizados por Ferrellgas y sus subsidiarias, sujeto a excepciones.
La compañía también firmó una Seventh Amendment a su Credit Agreement que extiende la madurez de la facilidad hasta octubre de 2028, eleva la capacidad máxima de endeudamiento a 350 millones de dólares (sujeto a una base de endeudamiento) e incluye una función de acordeón de 50 millones de dólares. La dirección dijo que las acciones buscan abordar vencimientos a corto plazo y mejorar la flexibilidad financiera.
Ferrellgas (OTC:FGPR)는 9.250%의 2031년 만기 우선채권 2031년 만기 9.250% 선순위 채권의 총액 미화 6억 5천만 달러를 액면가로 발행하고, 그 수익과 보유 현금을 사용해 2026년 만기 5.375% 선순위 채권을 모두 상환했습니다. 새 채권은 Ferrellgas 및 그 자회사에 의해 보증되는 선순위무담보 채무로서 예외 조항을 제외하고는 보증됩니다.
회사는 또한 Credit Agreement의 Seventh Amendment을 체결하여 시설의 만기를 2028년 10월까지 연장하고, 차입 한도를 최대 3억 5천만 달러로 상향(차입 기반에 따라)하며 5천만 달러의 어 accordion 기능을 포함합니다. 경영진은 이러한 조치가 단기 만기에 대응하고 재무 유연성을 개선한다고 말했습니다.
Ferrellgas (OTC:FGPR) a réalisé une émission pour un montant total de 650,0 millions de dollars de obligations senior 9,250% arrivant à échéance en 2031 au pair et a utilisé les produits de l’émission, additionnés de liquidités disponibles, pour racheter toutes ses obligations senior 5,375% arrivant à échéance en 2026. Les nouvelles obligations sont des titres prioritaires et sont garanties non garanties – garanties par Ferrellgas et ses filiales, sous réserve d’exceptions.
La société a également conclu un Seventh Amendment à son Credit Agreement qui porte à octobre 2028 l’échéance de la facilité, porte la capacité d’emprunt maximale à 350 millions de dollars (sous réserve d’une base d’emprunt) et comprend une fonction d’accordion de 50 millions de dollars. La direction a déclaré que ces mesures visent les échéances à court terme et améliorent la flexibilité financière.
Ferrellgas (OTC:FGPR) hat eine Emission im Gesamtvolumen von 650,0 Mio. USD an 9,250% Senior Notes mit Fälligkeit 2031 zum Nennwert abgeschlossen und die Erlöse sowie vorhandene Barmittel verwendet, um alle seine 5,375% Senior Notes mit Fälligkeit 2026 zurückzubezahlen. Die neuen Anleihen sind Senior-Verpflichtungen und sind unbesichert – garantiert von Ferrellgas und seinen Tochtergesellschaften, vorbehaltlich Ausnahmen.
Das Unternehmen hat außerdem eine Seventh Amendment zu seiner Kreditvereinbarung geschlossen, die die Fälligkeitsdauer der Einrichtung auf Oktober 2028 verlängert, die maximale Kreditkapazität auf 350 Millionen USD erhöht (je nach Borrowing Base) und eine 50-Millionen-Accordion-Funktion umfasst. Das Management sagte, die Maßnahmen würden sich gegen kurzfristige Fälligkeiten richten und die finanzielle Flexibilität verbessern.
Ferrellgas (OTC:FGPR) أتمّت عرضاً بقدر إجمالي قيمته 650.0 مليون دولار لسندات senior من الدرجة الأولى بمعدل 9.250% تستحق في 2031 وبالسعر الاسمي واعتُمدت العوائد النقدية المتاحة لإمرار سداد جميع سندات Senior بمعدل 5.375% تستحق في 2026. السندات الجديدة هي التزامات من الدرجة العليا وهي مضمونة من Ferrellgas وشركاته التابعة، مع استثناءات.
كما أبرمت الشركة التعديل السابع على اتفاقية الائتمان لديها والذي يمد عمر التسهيل حتى أكتوبر 2028، ويرفع الحد الأقصى للاقتراض إلى 350 مليون دولار (خاضع لقاعدة الاقتراض) ويشمل ميزة أكورديون بقيمة 50 مليون دولار. وقالت الإدارة إن هذه الإجراءات تعالج المصادقات القريبة من الأجل وتحسن المرونة المالية.
Ferrellgas (OTC:FGPR) 完成了总额为 6.50亿美元 的 9.250% 面向2031年的高级票据发行，按票面价值发行，并使用募集资金及现有现金来赎回所有 2026年到期的5.375%高级票据。新票据为高级债务，属无担保的优先债务——由 Ferrellgas 及其子公司担保，附带例外情形。
公司还签署了其信贷协定的 第七修正案，将信贷期限延长至 2028年10月，将最大借贷额提高至 3.5亿美元（以借款基底为准），并包含一个 5000万美元的手风琴（accordion）条款。管理层表示，这些措施旨在解决近期到期事宜并提升财务灵活性。
- Issued $650.0M of 9.250% senior notes due 2031
- Redeemed all 5.375% senior notes due 2026
- Extended credit agreement maturity to October 2028
- Increased credit facility size to $350M with $50M accordion
- New notes carry a higher coupon (9.250%) versus the redeemed 5.375% notes
LIBERTY, 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
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’
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
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 trust and hard work of our people and continued confidence in our Company’s long-term performance.”
About Ferrellgas
Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., and subsidiaries, serves propane customers in all 50 states, the District of Columbia, and Puerto Rico.
Cautionary Notes Regarding Forward Looking Statements
Statements included in this release concerning current estimates, expectations, projections about future results, performance, prospects, opportunities, plans, actions and events and other statements, concerns, or matters that are not historical facts are forward-looking statements as defined under federal securities laws. These statements often use words such as “anticipate,” “believe,” “intend,” “plan,” “projection,” “forecast,” “strategy,” “position,” “continue,” “estimate,” “expect,” “may,” “will,” or the negative of those terms or other variations of them or comparable terminology. A variety of known and unknown risks, uncertainties and other factors could cause results, performance, and expectations to differ materially from anticipated results, performance, and expectations, including the effect of weather conditions on the demand for propane; the prices of wholesale propane, motor fuel and crude oil; disruptions to the supply of propane; competition from other industry participants and other energy sources; energy efficiency and technology advances; significant delays in the collection of accounts or notes receivable; customer, counterparty, supplier or vendor defaults; changes in demand for, and production of, hydrocarbon products; inherent operating and litigation risks in gathering, transporting, handling and storing propane; costs of complying with, or liabilities imposed under, environmental, health and safety laws; the impact of pending and future legal proceedings; the interruption, disruption, failure or malfunction of our information technology systems including due to cyber-attack; economic and political instability, particularly in areas of the world tied to the energy industry, including the ongoing conflicts between Russia and Ukraine and in the Middle East; disruptions in the capital and credit markets, related to the evolving global tariff environment or otherwise; and access to available capital to meet our operating and debt-service requirements; and the anticipated completion of a refinancing. These risks, uncertainties, and other factors also include those discussed in the Annual Report on Form 10 K of Ferrellgas Partners, L.P., Ferrellgas, L.P., Ferrellgas Partners Finance Corp., and Ferrellgas Finance Corp. for the fiscal year ended July 31, 2025, and in other documents filed from time to time by these entities with the Securities and Exchange Commission. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements included in this release are made only as of the date hereof. Ferrellgas disclaims any intention or obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by law.
Contacts Investor Relations – InvestorRelations@ferrellgas.com
FAQ
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