Deal Description: Tallgrass Energy Partners, LP (NYSE: TEP) (“TEP”) announced on May 11, 2017, that it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP, priced a private offering of $350 million aggregate principal amount of its 5.50% Senior Notes due 2024 (the “Additional Notes”). The Additional Notes will be issued at 100% of par, plus accrued interest from March 15, 2017.
The offering is expected to close May 16, 2017, subject to satisfaction of customary closing conditions.
TEP intends to use the net proceeds of the offering to repay outstanding borrowings under its existing senior secured revolving credit facility.
Baker Botts L.L.P. represented TEP in the public offering.
Baker Botts Lawyers/Office Involved: Mollie Duckworth (Partner, Austin); Dan Tristan (Partner, Houston); Courtney Fore (Senior Associate, Austin); Jennifer Wu (Associate, Austin); and Allison Miller (Associate, Austin).
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