Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
FGP > SEC Filings for FGP > Form 8-K on 23-Oct-2013All Recent SEC Filings

Show all filings for FERRELLGAS PARTNERS L P | Request a Trial to NEW EDGAR Online Pro

Form 8-K for FERRELLGAS PARTNERS L P


23-Oct-2013

Entry into a Material Definitive Agreement, Creation of a Direct Financia


Item 1.01 Entry into a Material Definitive Agreement.

The information included in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01 of this Current Report on Form 8-K.



Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On October 21, 2013, our operating partnership, Ferrellgas, L.P., executed a second amendment to its secured credit facility. This amendment increases the borrowing capacity from $400.0 million to $500.0 million. There was no change to the size of the letter of credit sublimit which remains at $200.0 million. This amendment extends the maturity of the secured credit facility to October 2018. Borrowings on the secured credit facility will bear interest at rates 0.25% lower than the existing secured credit facility. Borrowings under this amended facility are available for working capital needs, capital expenditures and other general partnership purposes, including the refinancing of existing indebtedness.

The amended secured credit facility contains various affirmative and negative covenants and default provisions, as well as requirements with respect to the maintenance of specified financial ratios and limitations on the making of loans and investments. All borrowings under the amended secured credit facility bear interest, at the operating partnership's option, at a rate equal to either:

for Base Rate Loans or Swing Line Loans, the Base Rate, which is defined as the higher of i) the federal funds rate plus 0.50%, ii) Bank of America's prime rate; or iii) the Eurodollar Rate plus 1.00%; plus a margin varying from 0.75% to 1.75%; or

for Eurodollar Rate Loans, the Eurodollar Rate, which is defined as the LIBOR Rate plus a margin varying from 1.75% to 2.75%.

The descriptions set forth above in this Item 2.03 are qualified in their entirety by the operating partnership's second amendment to its credit facility, a copy of which is filed as an exhibit to this report and is incorporated by reference herein.



Item 8.01 Other Events.

On October 21, 2013, Ferrellgas, L.P. and Ferrellgas Finance Corp. (together, the "Issuers") issued a press release related to the announcement and pricing of $325.0 million of the Issuers' 6.75% senior notes due 2022 and the redemption of the Issuers' outstanding 9.125% senior notes due in 2017. A copy of this press release is filed with this Current Report on Form 8-K as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits.

Exhibit 10.1 - Amendment No. 2 to Credit Agreement dated as of October 21, 2013, among Ferrellgas, L.P. as the borrower, Ferrellgas, Inc. as the general partner of the borrower, Bank of America, N.A. as administrative agent, swing line lender and L/C issuer, and the lenders party hereto.

Exhibit 99.1 - Press Release of the Issuers dated October 21, 2013.


Top of the Form

  Add FGP to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for FGP - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.