LIBERTY, Mo., June 6 /PRNewswire/ -- Ferrellgas Partners, L.P. (NYSE: FGP)
announced today that it has priced its public offering of 4.5 million common
units representing limited partner interests at a public offering price of
$19.90 per unit. UBS Warburg, Banc of America Securities LLC, Salomon Smith
Barney and Lehman Brothers are the managing underwriters for the offering that
is scheduled to close on Friday, June 8, 2001.
Ferrellgas Partners has also granted the underwriters an option to
purchase up to an additional 675,000 common units to cover over-allotments.
The net proceeds of approximately $85 million, or $98 million if the over-
allotment option is exercised, will be used to redeem a portion of the
partnership's outstanding senior units. Copies of the final prospectus
relating to these securities may be obtained from UBS Warburg LLC, 299 Park
Avenue, New York, New York 10171 or Banc of America Securities LLC, 600
Montgomery Street, San Francisco, California 94111. This press release does
not constitute an offer to sell any of the common units under the offering.
Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas,
L.P., currently serves more than one million customers in 45 states.
Ferrellgas employees indirectly own more than 17 million units of the
partnership through an Employee Stock Ownership Plan. Ferrellgas trades on
the New York Stock Exchange under the ticker symbol FGP.
Statements in this release concerning expectations for the future are
forward-looking statements. A variety of known and unknown risks,
uncertainties and other factors could cause actual results, performance and
expectations to differ materially from anticipated results, performance or
expectations. These risks, uncertainties and other factors are discussed in
the partnership's Form 10-K for fiscal 2000 dated July 31, 2000, as filed with
the Securities and Exchange Commission on October 26, 2000, and other
documents filed from time to time with the Securities and Exchange Commission.
SOURCE Ferrellgas Partners, L.P.
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Related links:
http://www.ferrellgas.com
CONTACT:
Ryan VanWinkle, Investor Relations,
816-792-7998, or Scott Brockelmeyer, Media Relations,
816-792-7837, both of Ferrellgas Partners, L.P.
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