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Ferrellgas prices senior notes private placement, upsized to $175M

Ferrellgas Partners LP priced its private placement of 8.625% senior notes due 2020, upsized to $175 million from $150 million, at 96% of par plus accrued interest from Dec. 15, 2016.

The senior notes in the private placement are a further issuance of the same senior notes issued April 13, 2010, which has $182 million still outstanding. Both the old and new notes would be treated as a single series.

Net proceeds from the offering would be used to repay borrowings under its operating partnership's secured credit facility, according to a Jan. 24 news release. The private placement is scheduled to close Jan. 30.