Targa Resources tenders for 5.875% notes, will redeem remaining

Chicago, March 23 – Targa Resources Corp. is offering to buy any and all of its $963,247,000 outstanding 5.875% senior notes due 2026 (Cusip: 87612BBJO), according to an announcement.

Targa Resources Partners Finance Corp. is listed as a co-issuer on the notes.

The company is offering to pay $1,030.88 per $1,000 note. Interest will also be paid to the date of payment.

Funding for the tender offer is coming from a new offer of senior notes.

Targa Resources has issued a notice of redemption for any notes not tendered in the offer. The remaining notes will be redeemed on April 22 at 102.938.

The tender offer will expire at 5 p.m. ET on April 5, also the withdrawal deadline.

Settlement is planned for April 6 and for April 8 for notes tendered via guaranteed delivery methods.

The dealer manager for the tender offer is BofA Securities (888 292-0070, 980 387-3907, debt_advisory@bofa.com).

D.F. King & Co., Inc. is the information and tender agent for the offer (888 280-6942, 212 269-5550, targa@dfking.com).

Targa Resources is a Houston-based midstream energy company.

© 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.