Ferrellgas, L.P., Reaches Agreement With Lender Regarding Alleged Defaults
FERRELLGAS PARTNERS (FGP)
Last ferrellgas partners earnings: 10/15 04:20 pm
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US:NYSE Investor Relations:
ferrellgas.com/our-company/investor-information
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Source: GlobeNewswire
LIBERTY, Mo., Nov. 12, 2019 (GLOBE NEWSWIRE) -- Ferrellgas, L.P., the operating partnership of Ferrellgas Partners, L.P. (NYSE:FGP) (“Ferrellgas”) announced today that it reached an agreement with TPG Specialty Lending, Inc., the administrative agent (“TPG”) under its senior secured credit facility regarding alleged events of default that occurred under the credit facility. Pursuant to the agreement with TPG, the credit facility was amended and modified to (1) increase the $300 million revolving credit facility sub-limit for issuance of letters of credit from $125.0 to $140.0 million, (2) modify the definition of Consolidated Non-Acquisition Capital Expenditures to provide an exclusion for payments made during construction of vehicles used for propane delivery and related service when those payments are reimbursed upon the creation of operating leases for these vehicles provided that certain conditions are met, and (3) waive any prior Event of Default that have or would otherwise h
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