Tallgrass to pay down some revolver borrowings with notes proceeds

By Sara Rosenberg

New York, Sept. 10 – Tallgrass Energy LP plans to repay a portion of the borrowings under its revolving credit facility using proceeds from a $500 million senior notes offering, according to a market source.

The notes proceeds will also be used to pay related fees and expenses.

As of Sept. 4, the company had $1.444 billion of borrowings outstanding under the revolver.

Tallgrass is a Leawood, Kan.-based diversified midstream business.

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