Tallgrass to launch roughly $1.12 billion facility repricing Monday

By Sara Rosenberg

New York, May 16 - Tallgrass Operations LLC will hold a call at 11:30 a.m. ET on Monday to launch a repricing of its $1,124,400,000 credit facility, according to a market source.

Barclays is the lead bank on the deal.

The facility consists of a $200 million revolver due Nov. 13, 2017, a $718.4 million term loan B due Nov. 13, 2018 and a $206 million delayed-draw term loan due Nov. 13, 2017.

Current pricing on the revolver is Libor plus 400 basis points, on the term loan B is Libor plus 325 bps with a 1% Libor floor and on the delayed-draw term loan is Libor plus 400 bps with a 0.75% Libor floor.

In addition to the repricing, the company will be launching some amendments to its credit facility, the source added.

Tallgrass is an Overland Park, Kan.-based owner, operator, acquirer and developer of midstream energy assets.

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