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Targa Resources Prices $1.75 Billion Debt Offering

BY MT Newswires | CORPORATE | 11/07/25 04:17 AM EST

04:17 AM EST, 11/07/2025 (MT Newswires) -- Targa Resources (TRGP) said late Thursday it priced a public offering of $750 million of 4.35% senior notes due 2029 and $1 billion of 5.4% senior notes due 2036.

The offerings were priced at 99.938% and 99.92% of the notes' face value, respectively.

The company expects the offering to close Wednesday and plans to use part of the net proceeds to redeem the 6.875% senior notes due 2029 issued by Targa Resources Partners.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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