Targa Resources Partners LP (TRGP) 2019-1

CCYSZE(M)TNRMTYRNKMOSPFITYPEBNCHIPTGDNCSPRDCPNNICPRICE
USD750.0008.5Jul-27SeniorBa3BB-FixedTsyHigh 6.00%6.625% a3816.50%-100.00000
USD750.00010Jan-29SeniorBa3BB-FixedTsy-6.875% a4156.88%-100.00000
Tranche Comments
8.5 yr: First Pay: 2019-07-15; Registration: 144A/Reg S; Comments: USD750m 8.5yr Fxd. snr 144A/Reg S with registration rights. Ba3/BB. BAML/Jeff/GS/COSC /TD/WFS/ABN/BBVA/ING/MUFG/Scotia/SMBC Nikko. 6.625% area. Hi 6's. T+381bp Mixed MWC+50bp. Call sched: 2022 at 104.875%, 2023 at 103.250%, 2024 at 101.625%, 2025 at 100.00%. Equity claw: 35%. Tax Call: No. PP: No. XD: No; 10 yr: First Pay: 2019-07-15; Registration: 144A/Reg S; Comments: USD750m 10yr 6.875% Fxd. snr 144A/Reg S with registration rights. Ba3/BB. BAML/Jeff/GS/COSC /TD/WFS/ABN/BBVA/ING/MUFG/Scotia/SMBC Nikko. 6.875% area. T+415bp Mixed MWC+50bp. Call sched: 2024 at 103.438%, 2025 at 102.292%, 2026 at 101.146%, 2027 at par. Eq claw: 35% at 106.875%. Tax Call: No. PP: No. XD: No;
Use of Proceeds
Mixed
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