Targa Resources Partners LP 9% Series A Fixed to Floating Rate Cumulative Redeemable Perpetual Preferred Units
By: Tim McPartland,
Date Issued 10/7/2015
Shares Issued 4,400,000 Overallotment Shares 660,000
S&P Rating NR Moodys Rating NR
Security Ticker Symbol NGLS-A OTC Temp Ticker TGARP
Market Traded ON NYSE
Distribution Payment Paid on the 15th of each month beginning on 11/15/2015
Monthly Distribution .1875 Annual Distribution 2.25
After 11/1/2020 the distribution rate will be floating at 7.71% plus 1 month libor.
Securities may be redeemed, at the issuers option, as early as 11/01/2020 the call price is $25 plus accrued distributions
Dividend Payment will NOT be Qualified Distributions
Maturity Date None
This issue will generate a K-1 tax document.
Company Investor Relations Page for Targa Resources Partners
Below you can find the offering Prospectus