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Published on 12/31/2010 in the Prospect News High Yield Daily and Prospect News Liability Management Daily.

Ferrellgas redeems $79.92 million 6¾% notes due 2014 on Dec. 27

By Melissa Kory

Cleveland, Dec. 29 - Ferrellgas, LP redeemed its $79,924,000 of 6¾% senior notes due May 1, 2014.

The notes were redeemed on Dec. 27 at 102.25% plus accrued interest to the redemption date.

A tender offer for the notes began on Nov. 9 and expired on Dec. 8. Holders tendered $368.6 million of $450 million of the notes. All tenders were received prior to 5 p.m. ET on Nov. 23, the early tender date.

The tender purchase price was $1,025 per $1,000 principal amount of notes.

U.S. Bank NA is the redemption agent.

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


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