Ferrellgas amends loan, increasing letter-of-credit sublimit

By Sara Rosenberg

New York, Oct. 16 - Ferrellgas Inc. amended its credit facility, increasing the letter-of-credit sublimit to $200 million from $90 million through Feb. 28, 2009, and to $150 million thereafter, according to an 8-K filed with the Securities and Exchange Commission Thursday.

The amendment also requires that any outstanding letter-of-credit obligations in an amount equal to the pro rata share of any defaulting lender be cash collateralized on or before Nov. 3.

The amendment was completed on Oct. 15.

Ferrellgas is an Overland Park, Kan.-based distributor of propane and related equipment and supplies.

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