TARGA RESOURCES PARTNERS LP (NASDAQ:NGLS) Files An 8-K Entry into a Material Definitive Agreement

Item1.01

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), 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.