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Form 8-K · Current Report · Filed 2024-08-09

Targa Resources Completes $1.0 Billion Senior Notes Offering

On August 9, 2024, Targa Resources Corp. completed the underwritten public offering of $1.0 billion aggregate principal amount of 5.500% Senior Notes due 2035. The notes are senior unsecured and fully guaranteed by certain subsidiaries. The company used part of the proceeds to repay borrowings under its commercial paper note program and the remaining amount for general corporate purposes.

Filer
Targa Resources Corp. TRGP · NYSE
Filed
Accession
0001193125-24-197876
CIK
0001389170
Signal
Medium impactEnergy

Items reported

Item 1.01

Entry into a Material Definitive Agreement

Financial Instrument Agreement
Item 2.03

Creation of a Direct Financial Obligation

New Debt Issued
Item 9.01

Financial Statements and Exhibits

No viable tag

Market reaction

Close before filing

$136.71

Next session

+0.6%

Since filing

+97.8%

Latest close

$270.37

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from TRGP reporting the same item, with the next session's move:

Exhibits (3)

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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