TRGP · 10-Q · 2026Q3 · Full report

Senior Notes Issuance

Targa Resources Corp. · 2026-11-05 · Importance 64 · Surprise 42 · In source text

In March 2026, Targa issued $750.0 million of 4.350% senior notes due 2031 and $750.0 million of 6.050% senior notes due 2056, generating approximately $1,483.2 million in net proceeds. The company used the proceeds for general corporate purposes, including reducing Commercial Paper Program borrowings. In July 2026, the Partnership extended its receivables securitization facility to July 30, 2027, and increased capacity from $600 million to $800 million, comprising a committed $600 million line and an uncommitted $200 million line.

Key facts

• In March 2026, Targa completed an underwritten public offering of $750.0 million of 4.350% Senior Unsecured Notes due 2031 and $750.0 million of 6.050% Senior Unsecured Notes due 2056, receiving approximately $1,483.2 million in net proceeds. source
• In March 2026, Targa issued $750.0 million of 4.350% Senior Unsecured Notes due 2031 and $750.0 million of 6.050% Senior Unsecured Notes due 2056, generating net proceeds of approximately $1,483.2 million. source
• In January 2026, Targa completed redemption of all of the Partnership’s 6.875% Senior Unsecured Notes due 2029 and recognized a $10.1 million debt extinguishment loss, comprising a $7.8 million redemption premium and a $2.3 million write-off of debt issuance costs. source
• Targa used the net proceeds from the March 2026 debt issuance for general corporate purposes, including reducing borrowings under the Commercial Paper Program. source
• Targa used the net proceeds from its March 2026 senior notes issuance for general corporate purposes, including reducing borrowings under the Commercial Paper Program. source

Impact estimates