Targa Resources to reduce credit facility borrowings via new notes

By Tali Rackner

Norfolk, Va., Oct. 23 – Targa Resources Partners LP and subsidiary Targa Resources Partners Finance Corp. will reduce borrowings under its senior secured credit facility with the proceeds from a senior notes offering, according to a press release.

Remaining proceeds will be used for general partnership purposes, which may include repaying other debt, redeeming or repurchasing some of its outstanding notes, working capital and funding capital expenditures and acquisitions.

Targa Resources is a Houston-based provider of midstream natural gas and natural gas liquids services.

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