Tallgrass Energy Completes Private Placement Of 5.5% Notes, Due 2028, For US$500 Million

Published: Sep 12 2017
Deal Summary

Tallgrass Energy Partners, LP, a midstream energy company, along with its subsidiary Tallgrass Energy Finance Corp, completed the private placement of 5.5% senior unsecured notes, due January 15, 2028, for gross proceeds of US$500 million (MM). The notes were priced at 100% of the principal amount. Interest on notes will be payable semi-annually on January 15 and July 15 of each year, beginning on July 15, 2018.

Morgan Stanley & Co. LLC, BNP Paribas Securities Corp., Merrill Lynch, Pierce Fenner & Smith Incorporated, Citigroup Global Markets Inc., ING Financial Markets LLC, and RBC Capital Markets, LLC acted as joint book-running managers, while ABN AMRO Securities (USA) LLC, BBVA Securities Inc., Regions Securities LLC acted as underwriters to the company for the placement.

The company intends to use the proceeds from the placement to fund the redemption of outstanding borrowings under its existing senior secured revolving credit facility.

Deal history

Completed: On September 15, 2017, Tallgrass Energy completed the private placement of 5.5% senior unsecured notes, due January 15, 2028, for gross proceeds of US$500 MM.

Planned/Pricing: On September 12, 2017, Tallgrass Energy priced the private placement of 5.5% senior unsecured notes, due 2028, for gross proceeds of US$500 MM.

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