OVERLAND PARK, Kan., April 20 /PRNewswire-FirstCall/ --Ferrellgas Partners, L.P. (NYSE: FGP), one of the nation's largest propane distributors, today reported the closing of its previously announced $145 million Accounts Receivable Securitization Facility that will continue to provide sufficient liquidity to the partnership consistent with its seasonal working capital needs. Separately, the partnership today announced the early repayment and redemption of its $150 million Term Loan Facility due August 2009.

'Along with the anticipated renewal of our accounts receivable facility, we are very pleased with the continued support shown by our relationship-based lending group that over the last several years have provided us capital to roll-up smaller, long-term debt maturities and re-finance them in a orderly manner,' explained Ryan VanWinkle, Senior Vice President and Chief Financial Officer. The $150 million Term Loan Facility due August 2009 was redeemed using proceeds initially raised by the partnership through its August 2008 issuance of senior notes.

'With this latest refinancing and redemption we are pleased to announce that Ferrellgas has no further unaddressed debt maturities coming due in the next 12-months,' VanWinkle emphasized. Ferrellgas anticipates the redemption of its $73 million of notes due August 2009 on or before their maturity through proceeds initially raised by issuance of equity in February 2009.

Ferrellgas Partners, L.P., through its operating partnership, Ferrellgas, L.P., serves approximately one million customers in all 50 states, the District of Columbia, and Puerto Rico. Ferrellgas employees indirectly own more than 20 million common units of the partnership through an employee stock ownership plan. More information about the partnership can be found online at www.ferrellgas.com.

    Contact:        Tom Colvin, Investor Relations, 913-661-1530
                    Scott Brockelmeyer, Media Relations, 913-661-1830

SOURCE Ferrellgas Partners, L.P.