Initial Public Offering

Energy
Initial Public Offering

Summary

Baird served as a co-manager on this offering

About

Tallgrass Energy GP, LP (the “Partnership”) (NYSE: TEGP) recently completed an initial public offering of 47,725,000 common units at a price of $29.00 per unit, generating gross proceeds of approximately $1.4 billion. The partnership intends to use proceeds to purchase 41,500,000 Tallgrass Equity units. Tallgrass Equity will use proceeds and $150.0 million of revolver borrowings to purchase 20.0 million Tallgrass Energy Partners, LP (“TEP”) common units.

Tallgrass Energy GP, LP is a recently formed limited partnership whose only cash-generating assets will consist of common units, representing a controlling membership, in Tallgrass Equity, which will own, through its ownership of Tallgrass MLP GP, LLC, all of TEP’s incentive distribution rights and 834,391 TEP general partner units, representing an approximate 1.37% general partner interest in TEP. The Partnership is headquartered in Leawood, Kansas.

TEP is a publicly traded limited partnership primarily engaged in the transportation, storage and processing of natural gas, the transportation of crude oil and the provision of water business services primarily to the oil and gas exploration and production industry. Tallgrass Energy Partners, LP is headquartered in Leawood, Kansas.

For additional information about this transaction, please contact:

Curtis Goot +1 (314) 445-6540
Gary Placek +1 (414) 765-3611
Energy
Initial Public Offering
Date
May 2015
Company
Tallgrass Energy GP, LP
Transaction
M&A
Sectors
Energy
Target Location
North America

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