LEAWOOD, Kan.--(BUSINESS WIRE)--Feb 20, 2024--
Prairie Acquiror LP (“Prairie Acquiror”), which owns, directly or indirectly, 100% of the ownership interests in Tallgrass Energy Partners, LP (“TEP”), announced today that, subject to market conditions, it intends to offer $400 million aggregate principal amount of senior secured notes due 2029 in a private placement to eligible purchasers (the “Notes Offering”).
Prairie Acquiror intends to use the net proceeds from the Notes Offering, together with proceeds received from its amended and restated term loan credit facility, to refinance all or a portion of the indebtedness outstanding under its existing term loan credit facility, with any excess to be used for general partnership purposes.
The securities to be offered have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. Unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. Prairie Acquiror plans to offer and sell the securities only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.
Cautionary Note Concerning Forward-Looking Statements
Disclosures in this press release contain forward-looking statements. All statements, other than statements of historical fact, included in this press release that address activities, events or developments that management expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include statements regarding the Notes Offering and the use of proceeds therefrom, including statements regarding the refinancing of Prairie Acquiror’s existing term loan credit facility. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Prairie Acquiror, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements, and other important factors that could cause actual results to differ materially from those projected, including those set forth in reports and financial statements made available by TEP. Any forward-looking statement applies only as of the date on which such statement is made, and Prairie Acquiror does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
About Tallgrass
Tallgrass is a leading energy infrastructure company focused on safely, reliably and sustainably delivering the energy and services that fuel homes and businesses and enable quality of life. We are committed to being at the forefront of efforts to decarbonize our world. An investor group led by Blackstone Infrastructure Partners, which includes Enagás SA, GIC, NPS and USS, owns the outstanding equity interests in Tallgrass.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240219713665/en/
CONTACT: Tallgrass Investor Inquiries
Andrea Attel, 913-928-6012
Investor.relations@tallgrass.com
KEYWORD: KANSAS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: ENERGY OTHER ENERGY UTILITIES OIL/GAS
SOURCE: Tallgrass
Copyright Business Wire 2024.
PUB: 02/20/2024 07:21 AM/DISC: 02/20/2024 07:20 AM
http://www.businesswire.com/news/home/20240219713665/en
