LIBERTY, Mo., Aug 24, 2004 /PRNewswire-FirstCall via COMTEX/ -- Ferrellgas Partners, L.P.
(NYSE: FGP), one of the nation's largest retail marketers of propane, today
announced that Ferrellgas, L.P., its operating partnership, and Ferrellgas
Finance Corp., a wholly-owned subsidiary of Ferrellgas, L.P., on August 23,
2004 completed a previously agreed offer to exchange $250 million principal
amount of their unregistered 6 3/4% Senior Notes due 2014, which were issued
on April 20, 2004 in a private placement, for a like amount of senior notes
which have been registered under the Securities Act of 1933. Ferrellgas, L.P.
and Ferrellgas Finance Corp. are co-obligors and co-issuers of the new notes.
All of the 6 3/4% Senior Notes due 2014 were validly tendered for exchange
and have been accepted. The terms of the new notes are identical in all
material respects to those of the unregistered notes, except that the new
notes do not have any transfer restrictions or rights to additional interest.
Ferrellgas Partners, L.P. also announced today the closing of a public
offering of 375,000 common units in connection with the exercise by Citigroup
Global Markets Inc. and Lehman Brothers Inc. of an option to purchase an
additional 375,000 common units to cover overallotments. The option was
granted to the underwriters in connection with the previously-announced public
offering of 2.5 million common units on August 3, 2004. Net proceeds from
this offering were $7,181,250 based on an offering price of $20.00 per common
unit and after deducting underwriting discounts and commissions.
Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas,
L.P., currently serves more than one million customers in 50 states, Puerto
Rico, the U.S. Virgin Islands and Canada. Ferrellgas employees indirectly own
approximately 18 million common units of the partnership through an employee
stock ownership plan.
Contact:
Ryan VanWinkle, Investor Relations, 816-792-7998
SOURCE Ferrellgas Partners, L.P.
Ryan VanWinkle, Investor Relations of Ferrellgas Partners,
L.P., +1-816-792-7998
http://www.ferrellgas.com
