Tallgrass HoldCo to launch $1.05 billion term loan on Thursday

By Sara Rosenberg

New York, Feb. 14 – Tallgrass HoldCo (Prairie Acquiror LP) is set to hold a lender call at 10:30 a.m. ET on Thursday to launch a $1.05 billion five-year first-lien term loan, according to a market source.

Jefferies LLC and JPMorgan Chase Bank are the bookrunners on the deal.

The term loan has 101 soft call protection for six months, the source said.

Expected term loan ratings are B3/B.

Commitments and consents are due at noon ET on Feb. 22, the source added.

Proceeds will be used with other secured debt to refinance the company’s existing first-lien term loan.

Tallgrass HoldCo, backed by Blackstone, owns 100% of the equity interest in Tallgrass Energy Partners LP, an acquirer, owner, developer and operator of midstream energy assets in North America.

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