TRGP · 10-Q · 2026Q2 · Full report

Revolving Credit Facility

Targa Resources Corp. · 2026-08-06 · Importance 78 · Surprise 74 · In source text

In July 2026, Targa amended its accounts receivable securitization facility, extending the termination date to July 30, 2027 and increasing total borrowing capacity from $600.0 million to $800.0 million. At June 30, 2026, the facility had $451.0 million outstanding and $149.0 million of remaining availability based on qualifying receivables. The company also had approximately $0.6 billion of Commercial Paper borrowings and approximately $2.9 billion of availability under its $3.5 billion TRGP Revolver after letters of credit.

Key facts

• As of June 30, 2026 the Partnership had $451.0 million of qualifying receivables under its $600.0 million Securitization Facility, resulting in $149.0 million remaining availability; in July 2026 Partnership amended facility to extend termination to July 30, 2027 and increase capacity to up to $800.0 million source
• In July 2026 the Partnership amended the Securitization Facility to extend the termination date to July 30, 2027 and increased total capacity from up to $600 million to up to $800 million comprised of a committed line of up to $600 million and an uncommitted line of up to $200 million. source
• TRGP Revolver and Commercial Paper Program carrying/fair value as of June 30, 2026: $600.3 million. source
• TRGP senior revolving credit facility had no borrowings outstanding and Commercial Paper Program had approx $0.6 billion borrowings, resulting in approx $2.9 billion availability under TRGP Revolver as of June 30, 2026 after letters of credit source
• March 2026 Senior Unsecured Notes are fully and unconditionally guaranteed by subsidiaries that guarantee the TRGP Revolver, subject to conditions. source
• Availability under the Securitization Facility is subject to the value of the underlying receivables. source

Impact estimates