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Targa MLP boosts tender to $1.18B, says offer fully subscribed

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Targa MLP boosts tender to $1.18B, says offer fully subscribed

TargaResources Partners LP increased the maximum purchase price for itssenior note tenderoffers to $1.18 billion from $1.0 billion in response to earlytender results.

The sub-caps for the 6.625% senior notes due 2020 and the6.875% senior notes due 2021 were increased, according to an Oct. 6 newsrelease.

As of the early tender date of Oct. 5, the MLP had acceptedvalid tenders amounting to $483.1 million for 5% senior notes due 2018, $281.7million for the 2020 notes and $373.5 million for the 2021 notes.

The tender offers have now been fully subscribed, so anyoffers made after the early tender date will no longer be accepted for purchase.

Wells Fargo Securities LLC is the dealer manager, and D.F.King & Co. Inc. is the tender agent and information agent for the tenderoffers.