Tallgrass receives $334.43 million tenders on outstanding 4¾% notes

By Taylor Fox

New York, Dec. 22 – Tallgrass Energy Partners, LP announced the results of its cash tender offer to purchase any and all of its outstanding $498.39 million 4¾% senior notes due 2023 (Cusip: 87470LAE1) that expired at 5 p.m. ET on Dec. 21, according to a news release.

Tallgrass received tenders for $334,430,000, or 67.1% of the principal amount, and expects to accept all notes tendered.

The notes were co-issued by Tallgrass and Tallgrass Energy Finance Corp., a wholly owned subsidiary.

The notes will be purchased at a price of $1,026.10 per $1,000 of notes.

Tallgrass will use a portion of the proceeds from its recently priced $750 million of 6% senior notes due 2030 for the payment.

As previously reported Tallgrass intends to redeem any notes not tendered on or about Jan. 21 at a price of 102.375 plus interest.

The settlement date for any notes tendered under guaranteed delivery procedures is expected to be Dec. 24.

Wells Fargo Securities, LLC (866 309-6316, 704 410-4756) is the dealer manager.

Global Bondholder Services Corp. (866 794-2200, 212 430-3774, www.gbsc-usa.com/tallgrass) is the tender agent and information agent.

Tallgrass is a Leawood, Kan.-based midstream energy company.

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