Press release

Targa Resources Corp. Prices $2.0 Billion Offering of Senior Notes

HOUSTON, Nov. 06, 2023 (GLOBE NEWSWIRE) -- Targa Resources Corp. ("Targa" or the "Company") (NYSE:TRGP), announced today the pricing of an underwritten public offering (the "Offering") of $1.0 billion aggregate principal amount of its 6.150% Senior Notes due 2029 and $1.0 billion aggregate principal amount of its 6.500% Senior Notes due 2034 at a price to the public of 99.779% and 99.949% of their face value, respectively. The Offering is expected to close on November 9, 2023, subject to the satisfaction of customary closing conditions.

The Company expects to use the net proceeds from the Offering for general corporate purposes, including to repay borrowings under its term loan facility and its commercial paper note program. Other general corporate purposes may include repayment of other indebtedness, capital expenditures, additions to working capital and investments in its subsidiaries.

This Offering is being made pursuant to an effective shelf registration statement and prospectus filed by the Company with the U.S. Securities and Exchange Commission (the "SEC") and may be made only by means of a prospectus and prospectus supplement related to such Offering meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the "Securities Act"). This announcement shall not constitute an offer to sell or a solicitation of an ...

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