Targa Resources reduces accounts receivable facility to $600M, extends to Aug 2024

Targa Resources Corp.

Facility size decreased from $800M to $600M via Fourteenth Amendment.
Facility Termination Date extended to August 29, 2024.
Approximately $600M of trade receivable purchases outstanding as of Aug 30, 2023.
Amendment involves PNC Bank as administrator and LC bank.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Targa Resources Corp. amended Fourteenth Amendment to the Receivables Purchase Agreement with PNC Bank, National Association valued at $600 million (effective 2023-08-30).

Action: amendment
Agreement: credit facility
Counterparty: PNC Bank, National Association
Value: $600 million
Effective: 2023-08-30

Exact text from the filing

On August 30, 2023, Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp. (the “Company”), and Targa Receivables LLC, a bankruptcy-remote special purpose entity that is an indirect wholly-owned subsidiary of the Partnership (the “SPV”), entered into a Fourteenth Amendment to the Receivables Purchase Agreement

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37 material agreements filed in the last 30 days. Browse all material agreements →

Targa Resources Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-226398

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