secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2023-01-04T23:59:59+00:00
Accession:  0001193125-23-001532
Event type: debt
Sentiment:  neutral
Materiality: 0.80
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Targa Resources prices $1.75B senior notes; proceeds to fund $1.05B Grand Prix buyout
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- Issued $900M of 6.125% senior notes due 2033 and $850M of 6.500% notes due 2053.
- Offering priced at 99.858% and 97.843% of face value; closing expected January 9, 2023.
- Net proceeds to fund acquisition of Blackstone Energy Partners' 25% interest in Grand Prix NGL Pipeline for ~$1.05B.
- Grand Prix Transaction expected to close Q1 2023 with effective date Jan 1, 2023; offering not contingent on the deal.
- Remaining proceeds to reduce borrowings under revolving credit facility and commercial paper program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000119312523001532/0001193125-23-001532-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000119312523001532/d429579d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-001532

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