M
ME NEWS
19 Jun 2025, 05:37
Targa Resources Corp. completed a public offering of $1.5 billion in senior notes on June 18, 2025. The offering includes $750 million of 4.900% Senior Notes due 2030 and $750 million of 5.650% Senior Notes due 2036. Both series are fully and unconditionally guaranteed on a senior unsecured basis by certain subsidiaries.
The net proceeds will be used to redeem Targa Resources Partners LP’s 6.500% Senior Notes due 2027 and for general corporate purposes, including debt repayment, capital expenditures, working capital, or investments in subsidiaries.
The notes were issued under an existing shelf registration and are governed by the Eleventh Supplemental Indenture dated June 18, 2025, in connection with a Base Indenture from 2022. U.S. Bank Trust Company serves as trustee.
The net proceeds will be used to redeem Targa Resources Partners LP’s 6.500% Senior Notes due 2027 and for general corporate purposes, including debt repayment, capital expenditures, working capital, or investments in subsidiaries.
The notes were issued under an existing shelf registration and are governed by the Eleventh Supplemental Indenture dated June 18, 2025, in connection with a Base Indenture from 2022. U.S. Bank Trust Company serves as trustee.
