---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-039300"
form_type: "8-K"
ticker: "TRGP"
cik: "0001389170"
company_name: "Targa Resources Corp."
filed_at: "2025-02-27T23:59:59+00:00"
generated_at: "2026-05-26T01:26:31.481173+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Targa Resources completes $2B senior notes offering; proceeds for Badlands JV buyout

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-039300
- form_type: 8-K
- ticker: TRGP
- cik: 0001389170
- company_name: Targa Resources Corp.
- filed_at: 2025-02-27T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1389170/000119312525039300/0001193125-25-039300-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1389170/000119312525039300/d154736d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-039300
- JSON: https://secwatch.observer/filing/0001193125-25-039300.json
- Plain text: https://secwatch.observer/filing/0001193125-25-039300.txt

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