Targa Resources Corp. Prices $1.5 Billion Offering of Senior Notes

Core Viewpoint - Targa Resources Corp. is conducting a public offering of $750 million in Senior Notes due 2030 and$750 million in Senior Notes due 2036 to manage its debt and support corporate activities [1][2]. Group 1: Offering Details - The public offering includes $750 million of 4.900$750 million of 5.650% Senior Notes due 2036 priced at 99.700% of face value [1]. - The expected closing date for the offering is June 18, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - A portion of the net proceeds will be used to redeem the 6.500% Senior Notes due 2027 [2]. - Remaining proceeds will be allocated for general corporate purposes, including repaying borrowings under the unsecured commercial paper note program, repaying other debts, repurchasing or redeeming securities, and funding capital expenditures or investments in subsidiaries [2]. Group 3: Company Overview - Targa Resources Corp. is a leading provider of midstream services and one of the largest independent infrastructure companies in North America [4]. - The company operates a diversified portfolio of infrastructure assets critical for the delivery of energy across the U.S. and internationally, connecting natural gas and natural gas liquids to markets with growing demand [4].