Deal Description: On February 18, 2020, Tallgrass Energy, LP (NYSE: TGE) announced the pricing of an offering of $430 million in aggregate principal amount of 6.000% senior unsecured notes due 2027 by Tallgrass Energy Partners, LP (“TEP”) and Tallgrass Energy Finance Corp., a wholly-owned subsidiary of TEP. TGE is the managing member of Tallgrass Equity, LLC (“Tallgrass Equity”) and owns approximately 63.75% of the outstanding membership interest of Tallgrass Equity, as of February 12, 2020. TEP is a wholly-owned subsidiary of Tallgrass Equity and its subsidiaries.
The offering is expected to close February 20, 2020, 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:
Corporate: Mollie Duckworth (Partner, Austin); Courtney Fore (Partner, Austin), Dan Tristan (Partner, Houston); Michael Portillo (Associate, Austin) Patrick Samper (Associate, Austin), Jenna Kabrich (Associate, Austin)
For more information, please see Tallgrass’ news release click here.
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.