TARGA RESOURCES CORP. (NYSE:TRGP) Files An 8-K Entry into a Material Definitive Agreement
Item1.01
| Entry into a Material Definitive Agreement. |
On February23, 2017, Targa Resources Partners LP (the
Partnership), a subsidiary of Targa Resources Corp. (the
Company), and Targa Receivables LLC, a bankruptcy-remote special
purpose entity that is an indirect wholly-owned subsidiary of the
Partnership (the SPV), entered into a Commitment Increase Request
with PNC Bank, National Association, as administrator, purchaser
agent and LC Bank (the Commitment Increase Request) to the
Receivables Purchase Agreement dated as of January10, 2013 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 (the Purchase
Agreement), which increases the Purchase Limit (as defined in the
Purchase Agreement) of the accounts receivable securitization
facility to $350million. As of February23, 2017, after giving
effect to the Commitment Increase Request, there were $275million
of trade receivable purchases outstanding under the Facility. A
copy of the Commitment Increase Request is filed as Exhibit 10.1
to this Current Report on Form 8-K.
The foregoing description of the Commitment Increase Request does
not purport to be complete and is qualified in its entirety by
reference to the full text of the Commitment Increase Request,
which is incorporated by reference herein.
| Item9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
|
Exhibit Number |
Description |
|
| 10.1 |
Commitment Increase Request, dated February23, 2017, by and among Targa Receivables LLC, as seller, the Partnership, as servicer, and PNC Bank, National Association, as administrator, purchaser agent and LC Bank (incorporated by reference to Exhibit 10.1 to Targa Resources Partners LPs Current Report on Form 8-K filed February24, 2017 (File No.001-33303)). |
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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 +0.15 at 56.38 with 4,911,114 shares trading hands.
