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

LEAWOOD, Kan.–(BUSINESS WIRE)–Tallgrass Energy Partners, LP (NYSE: TEP) (“TEP”) announced today that
it, along with Tallgrass Energy Finance Corp., a subsidiary of TEP,
priced a private offering of $250 million aggregate principal amount of
their 5.50% Senior Notes due 2028 (the “Additional Notes”). The
Additional Notes will be issued at 101.5% of par, plus accrued interest
from September 15, 2017. The offering is expected to close on December
11, 2017, subject to customary closing conditions.

The Additional Notes are an additional issue of TEP’s existing 5.50%
Senior Notes due 2028 that TEP issued in an aggregate principal amount
of $500 million in a private placement on September 15, 2017 (the
“Existing Notes”). 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. The Additional Notes
issued pursuant to Rule 144A under the Securities Act of 1933, as
amended (the “Securities Act”), initially will be fungible for trading
purposes with the existing notes and will trade under the same CUSIP
numbers, while the Additional Notes issued pursuant to Regulation S
under the Securities Act will not initially trade under the same CUSIP
numbers as the Existing Notes. TEP intends to use the net proceeds of
the offering to repay outstanding borrowings under its existing senior
secured revolving credit facility.

The Additional Notes have not been registered under 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]