Tallgrass Energy Partners LP is trying to come up with more cash by making a $250 million offer of some of its senior notes that are due in 2028.
Based in Leawood, Kansas, a suburb of Kansas City, the company’s offering involves 5.50% Senior Notes. Tallgrass and Tallgrass Energy Finance Corp., a subsidiary of TEP stated that additional notes will be issued at 101.5% of par plus accrued interest from Sept. 15, 2017. The offering closes on Monday.
Tallgrass Energy plans to use the net proceeds to repay outstanding borrowings under its existing senior secured revolving credit facility.