Tallgrass Energy Partners Prices Offering of $500 Million of 5.50% Senior Notes

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 an offering of $500 million in aggregate principal amount of
5.50% senior unsecured notes due 2028 at an offering price equal to 100%
of par (“the Notes Offering”).

The Notes Offering is expected to close September 15, 2017, subject to
satisfaction of customary closing conditions. TEP intends to use the net
proceeds of the offering to repay outstanding borrowings under its
existing senior secured revolving credit facility.

The securities 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 securities 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 securities 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 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
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, 913-928-6014
[email protected]