Tallgrass Energy LP (TGE) has announced the pricing of an offering of US$500 million in aggregate principal amount of 4.75% senior unsecured notes due 2023 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 and owns approximately 55.46% of the outstanding membership interest of Tallgrass Equity. TEP is a wholly-owned subsidiary of Tallgrass Equity and its subsidiaries.
The offering is expected to close 26 September 2018, 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.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/25092018/baker-botts-represents-tallgrass-energy-in-us500-million-offering-of-senior-notes/