HOUSTON, Jan. 10, 2019 (GLOBE NEWSWIRE) -- Targa Resources Partners LP, a subsidiary of Targa Resources Corp. (NYSE: TRGP), and the Partnership’s subsidiary Targa Resources Partners Finance Corporation announced today the pricing of an upsized offering of $1.5 billion aggregate principal amount of senior unsecured notes consisting of the originally announced $750.0 million of senior unsecured notes due 2027 and an additional $750.0 million of senior unsecured notes due 2029. The 2027 Notes will accrue interest at a rate of 6.500% per annum, will mature on July 15, 2027, and were priced at par. The 2029 Notes will accrue interest at a rate of 6.875% per annum, will mature on January 15, 2029, and were priced at par.

About Targa Resources Partners LP

Targa Resources Partners LP is a Delaware limited partnership formed in October 2006 by its parent, Targa Resources Corp. (“TRC” or the “Company”), to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. On February 17, 2016, TRC completed the acquisition of all outstanding common units of the Partnership. Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream energy companies in North America. TRC owns, operates, acquires and develops a diversified portfolio of complementary midstream energy assets. The Company is primarily engaged in the business of: gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling natural gas liquids (“NGLs”) and NGL products, including services to liquefied petroleum gas exporters; gathering, storing, terminaling and selling crude oil; and storing, terminaling and selling refined petroleum products.