Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Paydowns > Headlines for Alto Palermo SA > News item |
Targa Resources to pay down revolver drawings with notes proceeds
By Sara Rosenberg
New York, Aug. 11 – Targa Resources Partners LP plans to repay outstanding revolving credit facility borrowings using a portion of the proceeds from a $1 billion senior notes offering, according to a market source.
The notes were upsized from $750 million with the additional funds earmarked for the repayment of additional revolver borrowings.
Remaining proceeds will be used to refinance existing 6¾% senior notes due 2024 via a tender offer and to pay related fees and expenses.
Targa is a Houston-based provider of midstream services.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.