Ferrellgas to pay down secured credit facility with offering proceeds

By Toni Weeks

San Luis Obispo, Calif., April 30 - Ferrellgas Partners, LP plans to repay borrowings under its secured credit facility with the proceeds from a sale of common units, according to a 424B2 filing with the Securities and Exchange Commission.

The company may also use the proceeds for other general business purposes, which may include the redemption of any senior units or other securities previously issued, working capital, capital expenditures or acquisitions.

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

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