$500 million in notes to be offered by Tallgrass Energy

Kansas City-based Tallgrass Energy, LP  announced Tuesday that, subject to market conditions, its subsidiaries Tallgrass Energy Partners, LP and Tallgrass Energy Finance Corp. intend to offer $500 million aggregate principal amount of senior unsecured notes due 2027 in a private placement to eligible purchasers.

TEP intends to use the net proceeds of the Notes Offering to repay outstanding borrowings under its existing senior secured revolving credit facility.

TEP plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

Source: Business Wire