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Tallgrass offering $250M of senior notes in private placement

Tallgrass Energy Partners LP commenced an offering of $250 million of 5.50% senior notes due 2028 in a private placement.

The notes are an add-on to the partnership's existing 5.50% senior notes, of which Tallgrass issued $500 million in a private placement Sept. 15, according to a Dec. 7 news release.

The additional notes will be issued under the same indenture, treated as a single class of debt securities and have the same terms as the previously issued senior notes. Net proceeds would be used to pay down senior secured revolver debt.