Form 8-K · Current Report · Filed 2024-08-07
Targa Resources Corp. Announces Pricing of $1.0 Billion Senior Notes Offering
On August 6, 2024, Targa Resources Corp. announced the pricing of an underwritten public offering of $1.0 billion aggregate principal amount of its 5.500% Senior Notes due 2035. The notes were priced at 99.943% of their face value. The offering is expected to close on August 9, 2024, subject to customary closing conditions. The Company plans to use the net proceeds for general corporate purposes, including repaying borrowings under its commercial paper note program, repaying outstanding debt, capital expenditures, and other investments. The offering is made pursuant to an effective shelf registration statement and prospectus filed with the SEC.
- Filer
- Targa Resources Corp. TRGP · NYSE
- Filed
- Accession
- 0001193125-24-195966
- CIK
- 0001389170
- Signal
- Low impactEnergy
- Source
- Official filing on sec.gov ↗
Items reported
Regulation FD Disclosure
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$131.62
Next session
+3.9%
Since filing
+105.4%
Latest close
$270.37
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Precedent
Previous filings from TRGP reporting the same item, with the next session's move:
Exhibits (2)
About Targa Resources Corp.
Targa Resources Corp. is a prominent midstream energy company focused on the processing, storage, transportation, and marketing of natural gas and natural gas liquids (NGLs). It plays a vital role in the energy sector by facilitating the efficient flow of these critical resources from production sites to end users. Targa Resources Corp. provides a variety of essential services including gathering and processing, which involves collecting natural gas from wells, separating impurities, and preparing it for transport. Additionally, the company is involved in fractionation, which divides mixed NGLs into individual hydrocarbons such as propane, butane, and ethane. Targa's operations are key to energy infrastructure, supporting industries that rely on natural gas and NGLs for power generation, manufacturing, and heating. With a significant presence in major U.S. shale basins, Targa Resources Corp. contributes to the country's energy supply chain stability and efficiency, making it a strategic player in the integration and distribution of energy resources across multiple markets.
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