Tallgrass Energy Partners Closes Offering of $400 Million of 5.50 Percent Senior Notes
02 September 2016 - 2:06AM
Business Wire
Tallgrass Energy Partners, LP (NYSE: TEP) (“TEP” or “Tallgrass
Energy”) announced today that it, along with Tallgrass Energy
Finance Corp., a subsidiary of TEP, closed an offering of $400
million in aggregate principal amount of 5.50 percent senior
unsecured notes due 2024. TEP used the net proceeds of the offering
to repay outstanding borrowings under its existing senior secured
revolving credit facility. “We are pleased with the execution of
our inaugural senior notes issuance,” said Tallgrass Energy
President and CEO David G. Dehaemers, Jr. “With this issuance, TEP
has achieved another important financing milestone which will
provide liquidity and flexibility as we continue to execute our
business plan.”
The securities have not been registered under the Securities Act
of 1933, as amended (the "Securities Act"), or any state securities
laws. Unless so registered, the securities may not be offered or
sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of
the Securities Act and applicable state securities laws. TEP
offered and sold the securities only to qualified institutional
buyers pursuant to Rule 144A under the Securities Act and to
non-U.S. persons in transactions outside the United
States pursuant to Regulation S under the Securities Act.
This press release is neither an offer to sell nor a
solicitation of an offer to buy the notes or any other securities
and shall not constitute an offer to sell or a solicitation of an
offer to buy, or a sale of, the notes or any other securities in
any jurisdiction in which such offer, solicitation or sale is
unlawful.
About Tallgrass Energy Partners,
LP
Tallgrass Energy Partners, LP (NYSE: TEP) is a publicly traded,
growth-oriented limited partnership formed to own, operate, acquire
and develop midstream energy assets in North America. TEP currently
provides crude oil transportation to customers in Wyoming,
Colorado, and the surrounding regions through Tallgrass Pony
Express Pipeline, LLC, which owns the Pony Express System, a crude
oil pipeline commencing in Guernsey, Wyoming and terminating in
Cushing, Oklahoma that includes a lateral in Northeast Colorado
that commences in Weld County, Colorado, and interconnects with the
pipeline just east of Sterling, Colorado. TEP provides natural gas
transportation and storage services for customers in the Rocky
Mountain, Midwest and Appalachian regions of the United States
through its 25 percent membership interest in Rockies Express
Pipeline LLC, a Delaware limited liability company which owns the
Rockies Express Pipeline, a FERC-regulated natural gas pipeline
system extending from Opal, Wyoming and Meeker, Colorado to
Clarington, Ohio, the Tallgrass Interstate Gas Transmission system,
a FERC-regulated natural gas transportation and storage system
located in Colorado, Kansas, Missouri, Nebraska and Wyoming, and
the Trailblazer Pipeline system, a FERC-regulated natural gas
pipeline system extending from the Colorado and Wyoming border to
Beatrice, Nebraska. TEP provides services for customers in Wyoming
at the Casper and Douglas natural gas processing facilities and the
West Frenchie Draw natural gas treating facility, and NGL
transportation services in Northeast Colorado. TEP also performs
water business services in Colorado and Texas through BNN Water
Solutions, LLC. TEP’s operations are strategically located in and
provide services to certain key United States hydrocarbon basins,
including the Denver-Julesburg, Powder River, Wind River, Permian
and Hugoton-Anadarko Basins and the Niobrara, Mississippi Lime,
Eagle Ford, Bakken, Marcellus and Utica shale formations.
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version on businesswire.com: http://www.businesswire.com/news/home/20160901006065/en/
Tallgrass Energy Partners, LPInvestor and Financial
InquiriesNate Lien,
913-928-6012investor.relations@tallgrassenergylp.comorMedia and
Trade InquiriesPhyllis Hammond,
913-928-6014media.relations@tallgrassenergylp.com
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