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Tallgrass Energy Partners Parent Announces $400M Private Placement

Tallgrass Energy Partners, LP, will work to refinance its debt through a $400 million private placement. Photo credit: Google Maps

Posted February 22, 2024

Prairie Acquiror LP, which owns Leawood-based Tallgrass Energy Partners, LP, announced it intends to offer $400 million of senior secured notes due in 2029 in a private placement to eligible purchasers.

Prairie Acquiror intends to use the net proceeds from the senior secured notes “Note Offerings,” to refinance all or a portion of debt outstanding under its existing term loan credit facility, with any excess to be used for general partnership purposes, according to a release Tuesday.

Proceeds received from its amended and restated term loan credit facility will also go toward paying the debt.

Tallgrass operates natural gas gathering and processing facilities while also investing in infrastructure to improve performance and reduce its carbon footprint.