Targa Resources Corp. has successfully completed an underwritten public offering, securing $1.5 billion through the issuance of senior notes. The offering includes $750 million of 4.900% Senior Notes due 2030 and $750 million of 5.650% Senior Notes due 2036. These notes are fully and unconditionally guaranteed on a senior unsecured basis by certain subsidiaries of Targa Resources. The funds raised will be utilized to redeem existing 6.500% Senior Notes due 2027, repay borrowings, and support general corporate purposes, such as capital expenditures and investments. This move reflects Targa's strategic financial management to optimize debt and support growth initiatives.
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