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Targa takes in tenders of $262.13 million 6¾% notes due 2024
By Wendy Van Sickle
Columbus, Ohio, Aug. 17 – Targa Resources Partners LP, a subsidiary of Targa Resources Corp., announced the final results of its cash tender offer for any and all of its 6¾% senior notes due 2024 (Cusip: 87612BAY8) on Monday.
By the expiration time, 5 p.m. ET on Aug. 17, $262,131,000, or 45.2%, of the $580.12 million principal amount of the outstanding notes had been tendered, according to a news release.
The total excludes $14,143,000 aggregate principal amount of the notes that remain subject to guaranteed delivery procedures.
The purchase price per $1,000 principal amount of the notes is $1,020.70.
The offer was announced on Aug. 11.
Settlement is expected on Aug. 18.
The company plans to redeem any of the notes not tendered under the offer.
D.F. King & Co., Inc. (800 820-2415 or 212 269-5550 for banks and brokers http://www.dfking.com/targa) is the information agent and tender agent.
Wells Fargo Securities, LLC (866 309-6316, 704 410-4756) is the dealer manager.
Targa is a Houston-based provider of midstream services.
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