---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-035212"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2025-02-25T23:59:59+00:00"
generated_at: "2026-05-26T04:39:31.061250+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Targa Resources prices $2.0B senior notes offering to fund Badlands buyout and general purposes

## Summary
- $1.0B 5.550% Senior Notes due 2035 priced at 99.610% of face value.
- $1.0B 6.125% Senior Notes due 2055 priced at 99.781% of face value.
- Net proceeds to fund ~$1.8B buyout of JV partner's preferred equity in Targa Badlands LLC (ND assets), expected Q1 2025.
- Remaining proceeds for general corporate purposes, including repaying commercial paper program borrowings.
- Offering expected to close Feb 27, 2025; closing not contingent on the Badlands Transaction.

## SEC filing metadata
- accession: 0001193125-25-035212
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2025-02-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000119312525035212/0001193125-25-035212-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000119312525035212/d921171d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-035212
- JSON: https://secwatch.observer/filing/0001193125-25-035212.json
- Plain text: https://secwatch.observer/filing/0001193125-25-035212.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.