Tallgrass Energy to pay down revolver borrowings with notes proceeds

By Sara Rosenberg

New York, Jan. 16 – Tallgrass Energy Partners plans to repay a portion of the outstanding balance under its revolving credit facility using proceeds from an $800 million senior notes offering, which was upsized from $700 million, according to a market source.

Remaining proceeds from the notes will be used to fund a tender offer for the company’s 2025 notes.

Tallgrass Energy is a limited partnership that owns, operates, acquires and develops midstream energy assets.

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