Tallgrass Energy Partners, an LP formed to own, operate, acquire and develop midstream energy assets, announced terms for its IPO on Monday. The Overland Park, KS-based company plans to raise $287 million by offering 13.1 million shares at a price range of $21 to $23. At the midpoint of the proposed range, Tallgrass Energy Partners, LP would command a market value of $535 million.
Tallgrass Energy Partners, LP, which was founded in 2013 and booked $256 million in sales for the 12 months ended 12/31/2012, plans to list on the NYSE under the symbol TEP. Tallgrass Energy Partners, LP initially filed confidentially on 2/11/2013. Barclays, Citi, BofA Merrill Lynch and Deutsche Bank are the joint bookrunners on the deal. The deal is scheduled to price May 13.
