WASHINGTON (dpa-AFX) - Targa Resources Partners LP (NGLS) said it has priced an underwritten public offering of 4.0 million common units representing limited partner interests at $38.30 per common unit, including 1.3 million units to be purchased by an unit of Targa Resources Corp. (TRGP) from the underwriters at the public offering price. Also, the Partnership has granted the underwriters a 30-day option to buy up to 405,000 additional common units, while it plans to use the net proceeds from the offering, including any net proceeds from the underwriters' exercise of their option, to reduce borrowings under its senior secured credit facility and for general partnership purposes. The offering may close on or about January 23, 2012. Wells Fargo Securities, Deutsche Bank Securities, J.P. Morgan, Raymond James and RBC Capital Markets would act as joint book-running managers for the offering.
Copyright RTT News/dpa-AFX
© 2012 AFX News
