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Targa Resources Corp. (TRGP) announced Aug. 6 the pricing of a $1 billion public offering of its 5.5% senior notes due 2035. The notes are priced at 99.943% of their face value, according to a release from the company.
The offering is expected to close Aug. 9.
Proceeds from the offering will be used for general purposes. The company plans to repay borrowings under its commercial paper note program, including the $500 million still owed on its $1.5 billion unsecured term loan facility, due July 2025.
The offering is made pursuant to an effective shelf registration statement Targa filed with the Securities and Exchange Commission.
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