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home / news releases / FGP - Ferrellgas plans pre-packaged bankruptcy filing

FGP - Ferrellgas plans pre-packaged bankruptcy filing

Ferrellgas Partners L.P.
Ferrellgas Partners (FGP) says it has entered a transaction support agreement to set a restructuring process under pre-packaged Chapter 11 cases, according to an SEC filing.Consenting noteholders hold or represent 74% of the outstanding amount of the company's 8.625% senior notes due 2020.The TSA includes various milestones, including an obligation to emerge from Chapter 11 protection by April 4.Seeking Alpha contributor Olsny Freitas warned a year ago in an analysis published on Seeking Alpha that Ferrellgas' cash burn and higher interest payments would lead to bankruptcy.

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Ferrellgas plans pre-packaged bankruptcy filing
Stock Information
Company Name: Ferrellgas Partners L.P.
Stock Symbol: FGP
Market: NYSE
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