Targa to redeem a $125 million all 9% series preferreds

By Taylor Fox

New York, Nov. 19 – Targa Resources Partners LP, a subsidiary of Targa Resources Corp., plans to redeem all $125 million of its 9% series fixed-to-floating rate cumulative redeemable perpetual preferred units (Cusip: 87611X204) on Dec. 21, according to a news release.

The 5 million units will be redeemed at a price of $25 per share, plus unpaid distributions.

Computershare Trust Co., NA is the redemption agent.

Targa is a Houston-based provider of midstream services.

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