AI English summary of an SEC filing — figures as filed
Targa Resources TRGPTarga Resources said its subsidiary Targa Resources Partners LP and Targa Receivables LLC entered into a Fifteenth Amendment to the Receivables Purchase Agreement on August 26, 2024. The agreement governs the SPV's accounts receivable securitization facility.
Key points
AI summaryTarga Resources said its subsidiary Targa Resources Partners LP and Targa Receivables LLC entered into a Fifteenth Amendment to the Receivables Purchase Agreement on August 26, 2024. The agreement governs the SPV's accounts receivable securitization facility.
The company said the Purchase Agreement Amendment extends the Facility Termination Date of the accounts receivable securitization facility to August 29, 2025. The agreement amends the Receivables Purchase Agreement dated January 10, 2013.
The company said that as of August 26, 2024, after giving effect to the amendment, there were approximately $600 million of trade receivable purchases outstanding under the Facility.
The company said PNC Bank, National Association is the administrator and LC Bank under the agreement. It also said the committed purchasers or their affiliates have provided investment banking, advisory and commercial banking services to the company and others, and that some of them have commodity swap transactions with the company.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Fifteenth Amendment to Receivables Purchase Agreement Entered
Targa Resources said its subsidiary Targa Resources Partners LP and Targa Receivables LLC entered into a Fifteenth Amendment to the Receivables Purchase Agreement on August 26, 2024. The agreement governs the SPV's accounts receivable securitization facility.
Source · Based on the filing body and exhibits
Facility Termination Date Extended to August 29, 2025
The company said the Purchase Agreement Amendment extends the Facility Termination Date of the accounts receivable securitization facility to August 29, 2025. The agreement amends the Receivables Purchase Agreement dated January 10, 2013.
Source · Based on the filing body and exhibits
Approximately $600 million in Receivables Purchases Outstanding Under Facility
The company said that as of August 26, 2024, after giving effect to the amendment, there were approximately $600 million of trade receivable purchases outstanding under the Facility.
Source · Based on the filing body and exhibits
Contracting Parties and Existing Dealings With Committed Purchasers
The company said PNC Bank, National Association is the administrator and LC Bank under the agreement. It also said the committed purchasers or their affiliates have provided investment banking, advisory and commercial banking services to the company and others, and that some of them have commodity swap transactions with the company.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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