WASHINGTON (dpa-AFX) - Targa Resources Partners LP (NGLS) and its subsidiary Targa Resources Partners Finance Corporation announced that, subject to market conditions, they intend to sell in an offering in the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, and to persons outside of the United States pursuant to Regulation S under the Securities Act, $400 million in aggregate principal amount of senior unsecured notes due 2022. The Partnership plans to use the net proceeds from this offering to reduce borrowings under its senior secured credit facility and for general partnership purposes, which may include redeeming or repurchasing some of its outstanding senior notes, as well as financing working capital and acquisitions.
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