secwatch.observer — SEC 8-K summary
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Issuer:     Targa Resources Corp. (TRGP)
CIK:        0001389170
Form:       8-K
Filed at:   2025-02-25T23:59:59+00:00
Accession:  0001193125-25-035212
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1389170/000119312525035212/0001193125-25-035212-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1389170/000119312525035212/d921171d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-035212

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