Tallgrass telegraphs secured debt offering

By Abigail W. Adams

Portland, Me., Feb. 14 – Tallgrass HoldCo (Prairie Acquiror LP) telegraphed its intention to price a secured notes offering as it announced plans to launch a $1.05 billion five-year first-lien term loan on Thursday, sources said.

Commitments for the term loan are due on Feb. 22 with Jefferies LLC and JPMorgan Chase Bank bookrunners, Prospect News reported.

Proceeds from the term loan and planned secured notes offering will be used to refinance the company’s existing first-lien term loan.

Tallgrass HoldCo owns 100% of the equity interest in Tallgrass Energy Partners LP, a Leawood, Kan.-based midstream energy company.

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