Targa Resources Corp. (NYSE: TRGP) said Jan. 23 that it plans to open a $430 million senior secured term loan. The loan will mature seven years after closing, the company added, noting that it will be opened depending on market conditions.
Net proceeds, along with a $670 million revolving credit facility, will help finance the Atlas Energy LP (NYSE: ATLS) acquisition after the spinoff of its non-midstream assets. It will also pay related fees and expenses and refinance debts, Targa said.
Houston-based Targa Resources Corp. is a midstream service provider.
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