Ferrellgas, L.P. Announces Closing of Senior Notes Offering and Entry Into Credit Agreement Amendment

Core Viewpoint - Ferrellgas, L.P. successfully completed an offering of $650 million in senior notes, enhancing its financial flexibility and supporting long-term growth initiatives [1][4]. Group 1: Senior Notes Offering - The company issued $650 million in 9.250% senior notes due 2031 at an offering price of 100% of the principal [1]. - The notes are senior obligations guaranteed by Ferrellgas, Inc. and its subsidiaries, with proceeds used to redeem existing 5.375% senior notes due 2026 [2]. Group 2: Credit Agreement Amendment - Ferrellgas entered into a Seventh Amendment to its Credit Agreement, extending maturity to October 2028 and increasing borrowing capacity to $350 million [3]. - The amendment includes an accordion feature allowing for an additional $50 million in borrowing under certain conditions [3]. Group 3: Management Commentary - The CEO highlighted the significance of these transactions for financial flexibility and long-term strategic growth, emphasizing the trust and hard work of employees [4]. Group 4: Company Overview - Ferrellgas Partners, L.P. provides propane services across all 50 states, the District of Columbia, and Puerto Rico [5].