Targa Resources Prices Private Placement Of 5% Senior Unsecured Notes, Due 2028 For US$750 Million

Published: Oct 10 2017
Deal Summary

Targa Resources Partners LP, a midstream energy company and a subsidiary of Targa Resources Corp., priced the private placement of 5% senior unsecured notes, due January 15, 2028, for gross proceeds of US$750 million (MM). The notes are priced at 100% of the principal amount.

The company intends to use the proceeds from the placement to redeem its 5% senior notes due 2018, to repay borrowings under its credit facilities, and for general corporate purposes.

The placement is expected to be completed on October 17, 2017, subject to customary closing conditions.

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