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Targa Resources Partners Closes Upsized $1B Offering of Senior Notes

Deals & Cases
August 18, 2020

Vinson & Elkins advised Targa Resources Partners LP (the “Partnership”), a subsidiary of Targa Resources Corp., and the Partnership’s subsidiary Targa Resources Partners Finance Corporation in connection with an upsized offering of $1.0 billion in aggregate principal amount of senior unsecured notes due 2031 (the “2031 Notes”). The 2031 Notes will accrue interest at a rate of 4.875% per annum, will mature on February 1, 2031, and were priced at par. The offering closed on August 18, 2020.

The V&E corporate team was led by partner Thomas Zentner and counsel Dan Spelkin with assistance from senior associate Bo Shi and associates Jordan Fossee and Farah Chranya. Also advising was counsel Larry Pechacek as well as partners James Meyer and Wendy Salinas and associate David Gilbert.

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