Targa Resources Partners LP Announces Final Results of Change of Control Tender Offer
March 03 2015 - 8:41AM
Targa Resources Partners LP ("Targa Resources Partners")
(NYSE:NGLS) announced today that its cash tender offer (the "Change
of Control Offer") for any and all of the outstanding 6 5/8% Senior
Notes due 2020 (CUSIP No. 04939MAM1) (the "APL Notes") issued by
Atlas Pipeline Partners, L.P. ("APL") and Atlas Pipeline Finance
Corporation ("Finance Corp" and, together with APL, the "APL
Issuers") expired at 8:00 a.m., New York City time, today. At the
expiration time, valid tenders had been received in the amount of
$4,780,000.
Targa Resources Partners expects to accept for payment all of
such notes and to settle the Change of Control Offer no later than
Wednesday, March 4, 2015.
The consummation of Targa Resources Partners' recent acquisition
of APL resulted in a Change of Control under the indenture
governing the APL Notes and obligated the APL Issuers to make a
Change of Control Offer. As permitted by the indenture governing
the APL Notes, Targa Resources Partners made the Change of Control
Offer in lieu of the APL Issuers and in advance of, and conditioned
upon, the consummation of the acquisition of APL, which occurred on
February 27, 2015, as previously announced.
About Targa Resources Partners LP
Targa Resources Partners LP is a publicly traded Delaware
limited partnership formed in October 2006 by its parent, Targa
Resources Corp., to own, operate, acquire and develop a diversified
portfolio of complementary midstream energy assets. Targa Resources
Partners is a leading provider of midstream natural gas, NGL,
terminaling and crude oil gathering services in the United States.
Targa Resources Partners is engaged in the business of gathering,
compressing, treating, processing and selling natural gas; storing,
fractionating, treating, transporting and selling NGLs and NGL
products; gathering, storing and terminaling crude oil; and
storing, terminaling and selling refined petroleum products.
The principal executive offices of Targa Resources Partners are
located at 1000 Louisiana, Suite 4300, Houston, TX 77002 and its
telephone number is 713-584-1000.
CONTACT: Investor contact:
713-584-1133
Jennifer Kneale
Director, Finance
Matt Meloy
Senior Vice President, Chief Financial Officer and Treasurer
(NYSE:NGLS)
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