Ferrellgas’ $575 Million Senior Secured Credit Facility

Bracewell LLP represented Ferrellgas, L.P., as borrower, in a $575 million senior secured credit facility.

The five-year facility replaces the current $575 million senior secured revolving credit facility that was scheduled to mature in October 2018. The new facility includes a $300 million cash flow revolver, with TPG Specialty Lending, Inc., as administrative agent, and a $275 million term loan.

The facility, which closed on May 4, 2018, repaid the outstanding amounts on Ferrellgas’ terminating bank credit facility, fees and expenses associated with the new facility.

Ferrellgas, L.P. distributes propane, and related equipment and supplies primarily in the United States. The company, led by James E. Ferrell, is also involved in the retail sale of propane appliances, and related parts and fittings, as well as other retail propane related services and consumer products.

Bracewell advised with a team including Robin J. Miles (Picture), Jeris Diana Brunette, Michele J. Alexander, Scott C. Sanders, Charles H. Still Jr., Timothy A. Wilkins, David J. Harty, Ryan Davis, Kristen A. Wong, Caitlyn N. Dockendorf, Mary Isensee, Lindsey E. Chapman and Luke A. Smith

Involved fees earner: Robin Miles – Bracewell; Jeris Diana Brunette – Bracewell; David Harty – Bracewell; Ryan Davis – Bracewell; Kristen Wong – Bracewell; Mary Isensee – Bracewell; Lindsey Chapman – Bracewell; Luke Smith – Bracewell; Michele Alexander – Bracewell; Scott Sanders – Bracewell; Timothy Wilkins – Bracewell; Charles Still – Bracewell; Caitlyn Dockendorf – Bracewell;

Law Firms: Bracewell;

Clients: Ferrellgas, L.P.;

Author: Ambrogio Visconti