Targa Resources Corp. (TRGP): debt financing — Targa Resources completes $2B senior notes offering; proceeds for Badlands JV buyout

Targa Resources Corp.

Issued $1.0B of 5.550% Senior Notes due 2035 and $1.0B of 6.125% Senior Notes due 2055.
Net proceeds to fund ~$1.8B repurchase of preferred equity in Targa Badlands LLC from JV partner.
Badlands Transaction expected to close Q1 2025, effective Jan 1 2025.
Remaining net proceeds for general corporate purposes, including repaying commercial paper borrowings.
Notes are senior unsecured, guaranteed by certain subsidiaries.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Targa Resources Corp. incurred senior notes of $1.0 billion with U.S. Bank Trust Company, National Association at 6.125% maturing 2055.

Instrument: senior notes
Principal: $1.0 billion
Counterparty: U.S. Bank Trust Company, National Association
Rate: 6.125%
Maturity: 2055
Event: incurrence

Exact text from the filing

and (ii) $1.0 billion aggregate principal amount of the Company’s 6.125% Senior Notes due 2055

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Targa Resources Corp. incurred senior notes of $1.0 billion with U.S. Bank Trust Company, National Association at 5.550% maturing 2035.

Instrument: senior notes
Principal: $1.0 billion
Counterparty: U.S. Bank Trust Company, National Association
Rate: 5.550%
Maturity: 2035
Event: incurrence

Exact text from the filing

completed the previously announced underwritten public offering (the “Offering”) of (i) $1.0 billion aggregate principal amount of the Company’s 5.550% Senior Notes due 2035

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10 debt financings filed in the last 30 days. Browse all debt financings →

Targa Resources Corp. filing history →

Source: SEC EDGAR

accession 0001193125-25-039300

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