TARGA RESOURCES CORP. (NYSE:TRGP) Files An 8-K Entry into a Material Definitive Agreement

TARGA RESOURCES CORP. (NYSE:TRGP) Files An 8-K Entry into a Material Definitive Agreement

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Item1.01 Entry into a Material Definitive Agreement.

On December9, 2016, Targa Resources Partners LP (the Partnership)
and Targa Receivables LLC, a bankruptcy-remote special purpose
entity that is an indirect wholly-owned subsidiary of the
Partnership (the SPV), subsidiaries of Targa Resources Corp.
entered into a Fifth Amendment (the Purchase Agreement Amendment)
to the Receivables Purchase Agreement (the Purchase Agreement)
among the SPV, as seller, the Partnership, as servicer, the
conduit purchasers, the committed purchasers, the purchaser
agents and the LC participants party thereto and PNC Bank,
National Association, as administrator and LC Bank, which amends
the $225 million accounts receivable securitization facility (the
Facility) by, among other things, (i)extending the Facility
Termination Date (as defined in the Purchase Agreement Amendment)
of the Facility to December8, 2017, (ii)increasing the Purchase
Limit (as defined in the Purchase Agreement) of the Facility to
$275 million and (iii)adding a new Purchaser Group consisting of
Wells Fargo Bank, National Association, as Committed Purchaser,
LC Participant and as Purchaser Agent (as defined in the Purchase
Agreement). As of December9, 2016, after giving effect to the
Purchase Agreement Amendment, there were $275 million of trade
receivable purchases outstanding under the Facility. A copy of
the Purchase Agreement Amendment is filed as Exhibit 10.1 to this
Current Report on Form 8-K.

The foregoing description of the Purchase Agreement Amendment
does not purport to be complete and is qualified in its entirety
by reference to the full text of the Purchase Agreement
Amendment, which is incorporated by reference herein.

Item9.01 Financial Statements and Exhibits.

(d) Exhibits.


Exhibit Number


Description

10.1 Fifth Amendment to Receivables Purchase Agreement, dated
December 9, 2016, by and among Targa Receivables LLC, as
seller, the Partnership, as servicer, the various conduit
purchasers, committed purchasers, purchaser agents and LC
participants party thereto and PNC Bank, National
Association, as administrator and LC Bank (incorporated by
reference to Exhibit 10.1 to Targa Resources Partners LPs
Current Report on Form 8-K filed January 5, 2017 (File No.
001-33303)).


About TARGA RESOURCES CORP. (NYSE:TRGP)

Targa Resources Corp., through its general and limited partner interests in Targa Resources Partners LP (the Partnership), is a provider of midstream natural gas and natural gas liquid (NGL) services in the United States. The Partnership is engaged in the business of gathering, compressing, treating, processing and selling natural gas and storing, fractionating, treating, transporting, terminaling and selling NGLs, NGL products, and gathering, storing and terminaling crude oil and refined petroleum products. The Partnership operates in two divisions: Gathering and Processing, and Logistics and Marketing. The Gathering and Processing division consists of two segments: Field Gathering and Processing, and Coastal Gathering and Processing. The Logistics and Marketing division consists of two segments: Logistics Assets, and Marketing and Distribution.

TARGA RESOURCES CORP. (NYSE:TRGP) Recent Trading Information

TARGA RESOURCES CORP. (NYSE:TRGP) closed its last trading session up +0.42 at 59.41 with 1,720,523 shares trading hands.

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