Targa Resources Partners LP - 2011-01-19
Description
Priced an underwritten public offering of 8 million common units representing limited partner interests at $33.67 per common unit. Net proceeds will be used to reduce borrowings under its senior secured credit facility and for general partnership purposes, including working capital and acquisitions and which may include redeeming or repurchasing some of its outstanding senior notes.
BofA Merrill Lynch, Barclays Capital, Citi, Morgan Stanley and Wells Fargo Securities are joint book-running managers.