Targa Resources Partners LP (NGLS) and its subsidiary Targa Resources Partners Finance Corp. said Thursday that they plan to sell in an offering $625 million in aggregate principal amount of senior unsecured notes due 2023.
The Partnership said it plans to use the net proceeds from the offering to reduce borrowings under its senior secured credit facility, and will use the remaining proceeds for general partnership purposes, which may include repaying other indebtedness, redeeming or repurchasing some of its outstanding notes, working capital and funding capital expenditures and acquisitions.
For comments and feedback: editorial@rttnews.com