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Targa Resources Partners issues $750M of senior unsecured notes due 2028

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Targa Resources Partners issues $750M of senior unsecured notes due 2028

Targa Resources Partners LP issued $750 million of 5% senior unsecured notes due 2028, according to an Oct. 17 SEC filing.

The issuance was done in connection to the partnership's previously announced offering. The notes will mature Jan. 15, 2028, with interests payable twice a year on Jan. 15 and July 15, beginning July 15, 2018.

The notes were issued pursuant to an indenture agreement that restricts the partnership’s ability and the ability of certain of its subsidiaries to, among other things, incur additional debt, enter into transactions with affiliates, and merge or consolidate with another company, subject to a number of exceptions and qualifications.

Targa Resources Partners is the master limited partnership of Targa Resources Corp.