Targa Resources Corp. Prices $1B Offering Of 5.500% Senior Notes Due 2035 At A Price To The Public Of 99.943% Of Their Face Value
Portfolio Pulse from Benzinga Newsdesk
Targa Resources Corp. (NYSE: TRGP) announced the pricing of a $1 billion offering of 5.500% Senior Notes due 2035 at 99.943% of their face value. The offering is expected to close on August 9, 2024, and proceeds will be used for general corporate purposes, including debt repayment and investments.
August 06, 2024 | 8:00 pm
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Targa Resources Corp. has priced a $1 billion offering of 5.500% Senior Notes due 2035 at 99.943% of their face value. The proceeds will be used for general corporate purposes, including debt repayment and investments.
The successful pricing of the senior notes at nearly face value indicates strong investor confidence. The use of proceeds for debt repayment and general corporate purposes is likely to strengthen the company's financial position, positively impacting the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100