Targa Resources Corp. Prices $2.0 Billion Offering of Senior Notes
06 Noviembre 2023 - 3:43PM
Targa Resources Corp. (“Targa” or the “Company”) (NYSE: TRGP),
announced today the pricing of an underwritten public offering (the
“Offering”) of $1.0 billion aggregate principal amount of its
6.150% Senior Notes due 2029 and $1.0 billion aggregate principal
amount of its 6.500% Senior Notes due 2034 at a price to the public
of 99.779% and 99.949% of their face value, respectively. The
Offering is expected to close on November 9, 2023, subject to the
satisfaction of customary closing conditions.
The Company expects to use the net proceeds from
the Offering for general corporate purposes, including to repay
borrowings under its term loan facility and its commercial paper
note program. Other general corporate purposes may include
repayment of other indebtedness, capital expenditures, additions to
working capital and investments in its subsidiaries.
This Offering is being made pursuant to an
effective shelf registration statement and prospectus filed by the
Company with the U.S. Securities and Exchange Commission (the
“SEC”) and may be made only by means of a prospectus and prospectus
supplement related to such Offering meeting the requirements of
Section 10 of the Securities Act of 1933, as amended (the
“Securities Act”). This announcement shall not constitute an offer
to sell or a solicitation of an offer to buy any of these
securities, except as required by law.
About Targa Resources Corp.
Targa Resources Corp. (NYSE: TRGP) is a leading
provider of midstream services and is one of the largest
independent midstream infrastructure companies in North America.
The Company owns, operates, acquires, and develops a diversified
portfolio of complementary domestic midstream infrastructure assets
and its operations are critical to the efficient, safe and reliable
delivery of energy across the United States and increasingly to the
world. The Company’s assets connect natural gas and natural gas
liquids (“NGL(s)”) to domestic and international markets with
growing demand for cleaner fuels and feedstocks. The Company is
primarily engaged in the business of: gathering, compressing,
treating, processing, transporting, and purchasing and selling
natural gas; transporting, storing, fractionating, treating, and
purchasing and selling NGLs and NGL products, including services to
liquified petroleum gas exporters; and gathering, storing,
terminaling, and purchasing and selling crude oil.
The principal executive offices of Targa
Resources Corp. are located at 811 Louisiana, Suite 2100, Houston,
TX 77002 and their telephone number is 713-584-1000.
Forward-Looking Statements
Certain statements in this release are
“forward-looking statements” within the meaning of Section 27A of
the Securities Act, and Section 21E of the Securities Exchange Act
of 1934, as amended. All statements, other than statements of
historical facts, included in this release that address activities,
events or developments that the Company expects, believes or
anticipates will or may occur in the future, are forward-looking
statements, including statements regarding our projected financial
performance, capital spending and payment of future dividends.
These forward-looking statements rely on a number of assumptions
concerning future events and are subject to a number of
uncertainties, factors and risks, many of which are outside the
Company’s control, which could cause results to differ materially
from those expected by management of the Company. Such risks and
uncertainties include, but are not limited to, weather, political,
economic and market conditions, including a decline in the price
and market demand for natural gas, NGLs and crude oil, the impact
of pandemics or any other public health crises, commodity price
volatility due to ongoing or new global conflicts, actions by the
Organization of the Petroleum Exporting Countries (“OPEC”) and
non-OPEC oil producing countries, the impact of disruptions in the
bank and capital markets, including those resulting from the lack
of access to liquidity for banking and financial services firms,
the timing and success of business development efforts and other
uncertainties. These and other applicable uncertainties, factors
and risks are described more fully in the Company’s filings with
the SEC, including its Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and Current Reports on Form 8-K. The Company
does not undertake an obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Contact the Company’s investor relations department by email at
InvestorRelations@targaresources.com or by phone at (713)
584-1133.
Sanjay LadVice President, Finance & Investor Relations
Jennifer KnealeChief Financial Officer
Targa Resources (NYSE:TRGP)
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