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.