Tallgrass Energy Partners Announces $500 Million Offering of Senior Notes Due 2031

Tallgrass Energy Partners, LP announced that it priced an offering of $500 million in aggregate principal amount of 6.000% senior unsecured notes due 2031 at an offering price equal to 100% of par with its subsidiary, Tallgrass Energy Finance Corp.

The notes offering is expected to close August 18, 2021, subject to satisfaction of customary closing conditions. Tallgrass, which operates across 11 states with transportation, storage, terminal, water, gathering and processing assets, intends to use the net proceeds and borrowings under its existing senior secured revolving credit facility to fund a concurrent cash tender offer to purchase any outstanding 5.50% senior notes due 2024 and redeem the 2024 notes that remain outstanding following the consummation of the tender offer. The tender offer is being made pursuant to an Offer to Purchase dated August 11, 2021.

The securities have not been registered under the Securities Act of 1933, as amended, or any state securities laws. Tallgrass plans to offer and sell the securities only to qualified institutional buyers and non-U.S. persons in transactions outside the United States pursuant to the Securities Act.


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