Tallgrass Energy Partners Announces Offering of $250 Million of Additional Senior Notes Due 2028

LEAWOOD, Kan.–(BUSINESS WIRE)–Tallgrass Energy Partners, LP (NYSE: TEP) (“TEP”) announced today that,
subject to market conditions, it, along with Tallgrass Energy Finance
Corp., a subsidiary of TEP, intends to offer $250 million aggregate
principal amount of their 5.50% Senior Notes due 2028 (the “Additional
Notes”) in a private placement to eligible purchasers (the “Notes
Offering”). The Additional Notes are an additional issue of TEP’s
existing 5.50% Senior Notes due 2028 (the “Existing Notes”) that TEP
issued in an aggregate principal amount of $500 million in a private
placement on September 15, 2017. The Additional Notes will be issued
under the same indenture as the Existing Notes, will be treated as a
single class of debt securities with the Existing Notes and will have
identical terms, other than the issue date and offering price.

TEP intends to use the net proceeds of the Notes Offering to repay
outstanding borrowings under its existing senior secured revolving
credit facility.

The Additional Notes 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 Additional Notes 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. TEP plans to
offer and sell the Additional Notes 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.

This press release is being issued pursuant to Rule 135c under the
Securities Act, and is neither an offer to sell nor a solicitation of an
offer to buy the Additional Notes or any other securities and shall not
constitute an offer to sell or a solicitation of an offer to buy, or a
sale of, the Additional Notes or any other securities in any
jurisdiction in which such offer, solicitation or sale is unlawful.

About Tallgrass Energy

Tallgrass Energy is a family of companies that includes publicly traded
partnerships Tallgrass Energy Partners, LP (NYSE: TEP) and Tallgrass
Energy GP, LP (NYSE: TEGP), and privately held Tallgrass Development,
LP. Operating across 10 states, Tallgrass is a growth-oriented midstream
energy operator with transportation, storage, terminal, water, gathering
and processing assets that serve some of the nation’s most prolific
crude oil and natural gas basins.

Contacts

Tallgrass Energy
Investor and Financial Inquiries
Nate
Lien, 913-928-6012
[email protected]
or
Media
and Trade Inquiries
Phyllis Hammond, 303-763-3568
[email protected]