Targa Resources’ $1 Billion Senior Notes Offering Success

Targa Resources (TRGP) has issued an update.

Targa Resources Corp. announced the successful pricing of their $1 billion Senior Notes offering on August 6, 2024, with a 5.500% interest rate, maturing in 2035. These notes are guaranteed by subsidiary guarantors and were sold under an underwriting agreement with major banks. The company plans to use the proceeds for general corporate purposes, including repaying existing debts and investing in subsidiaries, while noting that the underwriters have existing banking relationships with the company and may benefit from the proceeds.

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