Targa Resources plans to use new notes to reduce revolver borrowings

Chicago, Jan. 3 – Targa Resources Corp. said that it would use some of the proceeds from a new $1.75 billion offering of notes in two parts to pay down borrowings on its revolving credit facility, according to a press release.

The company also plans to allocate proceeds to an acquisition and to repay borrowings under its commercial paper note program.

Targa Resources is a Houston-based midstream energy company.

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