LOS ANGELES -- Bank of America said it led a $185 million financing for Ferrellgas LP, the nation's third-largest propane distributor.
The financing is structured in two tranches - a $100 million revolving credit to provide working capital, and a three-year revolving credit that reverts to a term loan to finance acquisitions and capital expenditures.
Bank of America structured, underwrote, and syndicated the financing among seven other banks.
Ferrellgas, based in Liberty, Mo, operates 415 retail outlets in 44 states and 229 satellite locations in 36 states. The company went public in June.