Targa Resources Corp.


Priced public offering of 17 million common shares at $46.10 each. Underwriter received 30-day option to purchase 2.55 million additional shares. Net proceeds will fund a portion of the capex related to construction of a new NGL pipeline to transport volumes from Permian Basin, and also from company's North Texas system to the company's Mont Belvieu, Texas, fractionation and storage complex. They will also repay outstanding credit facilities borrowings, redeem Targa Resources Partners LP's 6 3/8% senior notes due 2022 and support general corporate purposes. Barclays Capital Inc. is book-running manager.

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