Targa Resources Partners LP Prices Upsized $1.0 Billion Offering of Senior Notes
January 19, 2021 17:44 ET | Source: Targa Resources Corp. Targa Resources Corp. Houston, Texas, UNITED STATES
HOUSTON, Jan. 19, 2021 (GLOBE NEWSWIRE) Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp. (NYSE: TRGP), and the Partnership’s subsidiary Targa Resources Partners Finance Corporation announced today the pricing of an upsized offering of $1.0 billion in aggregate principal amount of senior unsecured notes due 2032 (the “2032 Notes”). The 2032 Notes will accrue interest at a rate of 4% per annum, will mature on January 15, 2032, and were priced at par.
The offering is expected to close on February 2, 2021, subject to customary closing conditions. The Partnership intends to use a portion of the net proceeds from the offering to fund the previously announced concurrent cash tender offer (the “T