TALLGRASS ENERGY CORP. SUBORDINATED CREDIT FACILITIES AND FUNDING DISCUSSIONS
Tallgrass Energy Corp. has received a demand letter from its mezzanine debt provider demanding payment of it $6-million subordinated loan facility (along with accrued interest and expenses) by the close of business on June 27, 2013. The company is negotiating with the lender to postpone its demand to accommodate a potential financing.
Tallgrass is in negotiations with a lending group interested in refinancing the company's debt instruments and providing working capital to finance the company's exploration activities and capital program. Although these discussions are evolving, there is no assurance that financing will be secured.