Targa Resources Partners LP priced its offering of $750 million senior unsecured notes due 2028 at par, bearing an interest rate of 5% per annum.

The partnership plans to use the net proceeds to redeem its 5% senior notes due 2018, as well as repay debt under its credit facilities and for general partnership purposes.

The offering is scheduled to close Oct. 17, according to an Oct. 10 news release.

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