Ferrellgas issues call to redeem $98 million of 8 5/8% notes due 2020

By Toni Weeks

San Diego, March 18 - Ferrellgas Partners, LP and its wholly owned subsidiary, Ferrellgas Partners Finance Corp., announced they will redeem $98 million of their 8 5/8% senior notes due 2020, according to a press release.

The notes will be redeemed at 108.625 plus accrued interest on March 28.

The amount represents a partial redemption comprising 35% of the principal amount of notes originally issued.

The proceeds from an offering, which closed today, of 4.4 million common units representing limited partner interests will be used to fund the redemption.

A notice of partial redemption is being sent to all currently registered holders of the notes by the trustee, U.S. Bank NA. Information relating to the redemption procedure may be obtained from U.S. Bank (800 934-6802).

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

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