Tallgrass Energy Partners, LP Prices Initial Public Offering
14 May 2013 - 12:01PM
Business Wire
Tallgrass Energy Partners, LP (“Tallgrass”) today announced the
pricing of its initial public offering of 13,050,000 common units
representing limited partner interests at the public offering price
of $21.50 per common unit. The common units are scheduled to begin
trading tomorrow on the New York Stock Exchange under the symbol
“TEP.” Tallgrass has granted the underwriters an option to purchase
up to an additional 1,957,500 common units from Tallgrass at the
initial public offering price. The offering is expected to close on
May 17, 2013, subject to customary closing conditions.
After the offering, Tallgrass Development, LP and its affiliates
will indirectly own common units and subordinated units
representing approximately 66% of Tallgrass’ outstanding units
(approximately 62% if the underwriters exercise their option to
purchase additional common units in full) and general partner units
representing a 2% general partner interest in Tallgrass.
Barclays, Citigroup, BofA Merrill Lynch and Deutsche Bank
Securities are acting as joint book-running managers, and Credit
Suisse, Morgan Stanley, RBC Capital Markets, Wells Fargo
Securities, Baird and Stifel are acting as co-managers for the
initial public offering. The offering will be made only by means of
a prospectus. When available, a final prospectus relating to the
offering may be obtained from:
- Barclays, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
1-888-603-5847 or email at barclaysprospectus@broadridge.com;
- Citigroup, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone:
1-800-831-9146 or email at batprospectusdept@citi.com;
- BofA Merrill Lynch, Attn: Prospectus
Department, 222 Broadway, New York, NY 10038, email:
dg.prospectus_requests@baml.com; or
- Deutsche Bank Securities, Attn:
Prospectus Group, 60 Wall Street, New York, NY 10005-2836,
telephone: 1-800-503-4611 or email at prospectus.CPDG@db.com.
When available, you may also get a copy of the final prospectus
for free by visiting the Securities and Exchange Commission’s
(“SEC”) website at http://www.sec.gov.
A registration statement relating to the common units has been
filed with, and declared effective by the SEC. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the common units in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Tallgrass Energy Partners, LP
Headquartered in Overland Park, Kansas, with a base of
operations in Lakewood, Colorado, Tallgrass is a growth-oriented
limited partnership that provides natural gas transportation and
storage services for customers in the Rocky Mountain and Midwest
regions of the United States through its Tallgrass Interstate Gas
transportation system and provides processing services for
customers in Wyoming through its Casper and Douglas natural gas
processing and West Frenchie Draw natural gas treating
facilities.
Forward-Looking Statements
This press release contains certain “forward-looking statements”
that reflect the views and assumptions of Tallgrass’ management
regarding future events. Statements that do not relate strictly to
historical or current facts are forward-looking. These forward
looking statements involve known and unknown risks, among others
that our business plans may change as circumstances warrant and
securities of Tallgrass may not ultimately be offered to the public
because of general market conditions or other factors. Accordingly,
investors should not place undue reliance on forward-looking
statements as a prediction of actual results.
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