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Targa Resources Partners to offer $750M of senior notes

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Targa Resources Partners to offer $750M of senior notes

Targa Resources Corp. unit Targa Resources Partners LP is set to offer $750.0 million of its senior unsecured notes due 2027 with the partnership's subsidiary Targa Resources Partners Finance Corp., according to a Jan. 10 news release.

The partnership plans to use the net proceeds from the offering for general partnership purposes, such as partial or full redemption of its 2019 senior notes, repayment of certain debt, additional working capital and for funding investments and acquisitions.

Targa Resources Partners was formed in 2006 by Targa Resources to own, operate and develop a portfolio of midstream energy assets, including natural gas gathering and processing and NGL fractionation.