Targa Resources Partners LP, a subsidiary of Targa Resources Corp. (NYSE: TRGP), and the partnership’s subsidiary Targa Resources Partners Finance Corp. announced April 5 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 (the Securities Act), and to persons outside of the United States pursuant to Regulation S under the Securities Act, $750 million in aggregate principal amount of senior unsecured notes due 2026.

The partnership intends to use the net proceeds from the offering to repay borrowings under its credit facilities and for general partnership purposes, which may include redeeming or repurchasing some of its outstanding notes, repaying other indebtedness, working capital and funding capital expenditures and acquisitions.

The securities to be offered have not been registered under the Securities Act, or any state securities laws, and unless so registered, the securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The senior unsecured notes are expected to be eligible for trading by qualified institutional buyers under Rule 144A under the Securities Act and by non-U.S. persons pursuant to Regulation S under the Securities Act. This announcement shall not constitute an offer to sell or a solicitation of an offer to buy any of these securities, except as required by law.