SEC Filing Summary: Star Gas Partners, L.P. (Form 8-K)
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Star Gas Partners, L.P. on January 15, 2010. The registrant is a Delaware limited partnership with its principal executive offices in Stamford, CT. The report details a specific corporate action regarding the company's debt obligations effective as of the filing date.
Key Financial Metrics
The filing does not provide comprehensive financial statements, revenue, profit, cash flow, or margin data. The primary financial metric disclosed relates to a debt redemption event:
- Debt Instrument: 10.25% Senior Notes due 2013 (CUSIP No. 85512QAE4).
- Redemption Amount: $50 million in face amount.
- Redemption Price: 101.708% of face value plus accrued but unpaid interest.
- Redemption Date: February 19, 2010.
- Trustee/Paying Agent: Union Bank of California, N.A.
Material Changes
The material change reported is the Issuers' (Star Gas Partners, L.P. and its subsidiary Star Gas Finance Company) election to redeem a portion of their outstanding Senior Notes. This action reduces the company's long-term debt principal by $50 million, subject to the payment of the premium and accrued interest on the specified redemption date.
Guidance, Outlook, and Risks
The filing does not contain forward-looking guidance, management commentary on future operations, or a discussion of general risks and contingencies beyond the specific debt redemption event. The document serves strictly as a notification of the triggering event for the financial obligation.
Investor Verification Checklist
- Confirm the exact redemption price calculation including accrued interest as of February 19, 2010.
- Verify the remaining outstanding balance of the 10.25% Senior Notes due 2013 after the $50 million redemption.
- Review the attached Press Release (Exhibit 99.1) for additional context on the rationale for the redemption.
- Check subsequent filings to confirm the execution of the payment on the redemption date.