Tallgrass Energy’s $500 Million Senior Notes Offering


Baker Botts advised Tallgrass Energy on the deal

Tallgrass Energy, LP (NYSE: TGE) announced today the pricing of an offering of $500 million in aggregate principal amount of 4.750% 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 (“Tallgrass Equity”) 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 September 26, 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 with a team including Mollie Duckworth (Picture, Austin); Dan Tristan (Partner, Houston); Courtney Fore (Senior Associate, Austin); Allison Lancaster (Associate, Austin); Leah Leipold (Associate, Austin) and Jon Nelsen (Partner, Austin).

Involved fees earner: Mollie Duckworth – Baker Botts; Daniel Tristan – Baker Botts; Courtney Fore – Baker Botts; Allison Lancaster – Baker Botts; Leah Leipold – Baker Botts; Jon Nelsen – Baker Botts;

Law Firms: Baker Botts;

Clients: Tallgrass Energy Partners, LP ;

Author: Ambrogio Visconti