Targa Resources receives tenders for 33.63% of 5 1/8% notes due 2025

Chicago, Feb. 1 – Targa Resources Partners LP, a subsidiary of Targa Resources Corp., announced that the company has received tenders for $152,123,000, or 31.63%, of its 5 1/8% senior notes due 2025 (Cusip: 87612BBB7) in response to its any-and-all tender offer for up to the $480,986,000 principal amount outstanding of the notes, according to a press release.

An additional $5,816,000 principal amount of the notes have been tendered and remain subject to guaranteed delivery procedures.

The offer expired at 5 p.m. ET on Feb. 1.

Payment is expected for Feb. 2, subject to the completion of Targa’s previously announced debt financing transaction.

The purchase price per $1,000 principal amount of the notes is $1,026.88.

Settlement of notes tendered via a notice of guaranteed delivery is expected to be on Feb. 4.

As previously reported, 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.

BofA Securities (980 388-0539) is the dealer manager.

Targa is a Houston-based provider of midstream services.

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