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Tallgrass Energy GP LP Prices IPO at $1.2 Billion

Tallgrass Energy GP, LP announced the pricing of its initial public offering of 41,500,000 Class A shares representing limited partner interests at the public offering price of $29.00 per share.

The Class A shares are scheduled to begin trading tomorrow on the New York Stock Exchange under the symbol “TEGP.” Tallgrass has granted the underwriters an option to purchase up to an additional 6,225,000 Class A shares from Tallgrass at the initial public offering price. The offering is expected to close on May 12, 2015, subject to customary closing conditions.

After the offering, TEGP will own membership interests in Tallgrass Equity, LLC, which will own a 100% membership interest in Tallgrass MLP GP, LLC (TEP GP) and 20 million common units of Tallgrass Energy Partners, LP (TEP). TEP GP currently owns all of the incentive distribution rights and a 1.37% general partner interest in TEP. TEP is a publicly traded, growth-oriented limited partnership formed to own, operate, acquire and develop midstream energy assets in North America.

Citigroup, Goldman, Sachs & Co., BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank Securities, Morgan Stanley, RBC Capital Markets and Wells Fargo Securities are acting as joint book-running managers, and Baird, Scotia Howard Weil, Stifel, Tudor, Pickering, Holt & Co. and U.S. Capital Advisors are acting as co-managers for the initial public offering.

Announced Date
May 07,2015
Value  ( $MM )
Use of Fund
General Purpose
Tallgrass Energy, LP
/Book Runner
Morgan Stanley,RBC Capital Markets,Goldman Sachs Group Inc,Credit Suisse,Citigroup Global Markets Inc.,Wells Fargo Securities LLC,BofA Merrill Lynch,Deutsche Bank Securities Inc.
United States
United States

Tallgrass Energy, LP
Christopher Jones
Vice President, General Counsel and Secretary
Overland Park ,66223

David Dehaemers
President & Chief Executive Officer
Overland Park ,66223

Gary Brauchle
Executive Vice President and Chief Financial Officer
Overland Park ,66223

Gary Watkins
Vice President and Chief Accounting Officer
Overland Park ,66223

Richard Bullock
Vice President of Human Resources, Tax and Risk Management
Overland Park ,66223

William Moler
Executive Vice President and Chief Operating Officer
Overland Park ,66223