Targa to use note offering proceeds to redeem 8¼ senior notes due 2016

By Tali David

Minneapolis, Oct. 22 - Targa Resources Partners LP plans to use the proceeds of its $400 million senior notes offering to redeem all of its outstanding 8¼ senior notes due 2016, according to a press release.

The proceeds will also be used to reduce borrowings under the company's senior secured credit facility and for general partnership purposes, which may include redeeming or repurchasing some of its outstanding senior notes, as well as financing working capital and funding acquisitions.

Targa Resources is a Houston-based provider of midstream natural gas and natural gas liquids services.

© 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.