Tallgrass Energy’s $500 Million Notes Offering

Baker Botts advised Tallgrass Energy on the deal.

Tallgrass Energy Partners, LP (“TEP”) announced that it, along with Tallgrass Energy Finance Corp., a wholly-owned subsidiary of TEP, priced an offering (the “Notes Offering”) of $500 million in aggregate principal amount of 6.000% senior unsecured notes due 2031 at an offering price equal to 100% of par.

TEP intends to use the net proceeds of the Notes Offering, together with borrowings under its existing senior secured revolving credit facility, to fund a concurrent cash tender offer (the “Tender Offer”) to purchase any and all of its outstanding 5.50% Senior Notes due 2024 (the 2024 Notes”), and to redeem the 2024 Notes that remain outstanding following the consummation of the Tender Offer. The Tender Offer is being made pursuant to an Offer to Purchase dated August 11, 2021.

The Baker Botts team included: Mollie Duckworth (Partner, Austin, Picture); Justin Hoffman (Partner, Houston); Grace Matthews (Senior Associate, Austin); Dillon Sebasco (Associate, Austin); Jenna Kabrich (Associate, Austin); Brian Golde (Associate, Austin); Michael Bresson (Partner, Houston), Chuck Campbell (Special Counsel, Houston).


Involved fees earner: Michael Bresson – Baker Botts LLP; Chuck Campbell – Baker Botts LLP; Mollie Duckworth – Baker Botts LLP; Brian Golde – Baker Botts LLP; Justin Hoffman – Baker Botts LLP; Jenna Kabrich – Baker Botts LLP; Grace Matthews – Baker Botts LLP; Dillon Sebasco – Baker Botts LLP;

Law Firms: Baker Botts LLP;

Clients: Tallgrass Energy Partners, LP ;

Author: Martina Bellini