Targa Resources Partners LP - 2012-11-16

Commenced public offering of 9,500,000 common units representing limited partner interests. The partnership also has granted the underwriters a 30-day option to purchase up to 1,425,000 additional common units. The partnership intends to use the net proceeds from this offering, including any net proceeds from the underwriters' exercise of their option to purchase additional common units, to fund the partnership's proposed acquisition of 100% of Saddle Butte Pipeline LLC's Williston Basin crude oil pipeline and terminal system and natural gas gathering and processing operations. BofA Merrill Lynch, Barclays, Citigroup, J.P. Morgan, Morgan Stanley, UBS Investment Bank, Wells Fargo Securities and RBC Capital Markets will act as joint book-running managers for the offering.