Targa Resources entered into an underwriting agreement on June 4, 2025 to issue and sell $1.5 billion in senior notes, consisting of $750.0 million due 2030 and $750.0 million due 2036.

8-KRegulation FD DisclosureFiled Jun 6, 2025Period of report Jun 4, 2025Summary published (UTC) Oct 14, 2026

Key points

AI summary

Targa Resources entered into an underwriting agreement on June 4, 2025 to issue and sell $1.5 billion in senior notes, consisting of $750.0 million due 2030 and $750.0 million due 2036.
The company set the coupon on its 2030 notes at 4.900%, with maturity on September 15, 2030, and the coupon on its 2036 notes at 5.650%, with maturity on February 15, 2036. Interest will accrue from June 18, 2025 and be paid semi-annually in arrears.
The company said it will issue the 2030 notes at 99.870% of face value and the 2036 notes at 99.700% of face value. The offering is expected to close on June 18, 2025, subject to customary closing conditions.
The company said it will use a portion of the net proceeds to redeem the 6.500% senior notes due 2027 issued by Targa Resources Partners LP, and will use the remaining proceeds for general corporate purposes, including repaying borrowings under its commercial paper program.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Targa Resources Prices $1.5 billion Senior Notes Offering

Targa Resources entered into an underwriting agreement on June 4, 2025 to issue and sell $1.5 billion in senior notes, consisting of $750.0 million due 2030 and $750.0 million due 2036.

Source · Based on the filing body and exhibits

Coupons and Maturities by Note

The company set the coupon on its 2030 notes at 4.900%, with maturity on September 15, 2030, and the coupon on its 2036 notes at 5.650%, with maturity on February 15, 2036. Interest will accrue from June 18, 2025 and be paid semi-annually in arrears.

Source · Based on the filing body and exhibits

Offering Price and Expected Closing Date

The company said it will issue the 2030 notes at 99.870% of face value and the 2036 notes at 99.700% of face value. The offering is expected to close on June 18, 2025, subject to customary closing conditions.

Source · Based on the filing body and exhibits

Use of Net Proceeds

The company said it will use a portion of the net proceeds to redeem the 6.500% senior notes due 2027 issued by Targa Resources Partners LP, and will use the remaining proceeds for general corporate purposes, including repaying borrowings under its commercial paper program.

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.

View the original filing on SEC EDGAR ↗

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