HOUSTON, March 3, 2015 (GLOBE NEWSWIRE) -- Targa Resources Partners LP ("Targa Resources Partners") (NYSE:NGLS) announced today that its cash tender offer (the "Change of Control Offer") for any and all of the outstanding 6 5/8% Senior Notes due 2020 (CUSIP No. 04939MAM1) (the "APL Notes") issued by Atlas Pipeline Partners, L.P. ("APL") and Atlas Pipeline Finance Corporation ("Finance Corp" and, together with APL, the "APL Issuers") expired at 8:00 a.m., New York City time, today. At the expiration time, valid tenders had been received in the amount of $4,780,000.
Targa Resources Partners expects to accept for payment all of such notes and to settle the Change of Control Offer no later than Wednesday, March 4, 2015.
The consummation of Targa Resources Partners' recent acquisition of APL resulted in a Change of Control under the indenture governing the APL Notes and obligated the APL Issuers to make a Change of Control Offer. As permitted by the indenture governing the APL Notes, Targa Resources Partners made the Change of Control Offer in lieu of the APL Issuers and in advance of, and conditioned upon, the consummation of the acquisition of APL, which occurred on February 27, 2015, as previously announced.
About Targa Resources Partners LP
Targa Resources Partners LP is a publicly traded Delaware limited partnership formed in October 2006 by its parent, Targa Resources Corp., to own, operate, acquire and develop a diversified portfolio of complementary midstream energy assets. Targa Resources Partners is a leading provider of midstream natural gas, NGL, terminaling and crude oil gathering services in the United States. Targa Resources Partners is engaged in the business of gathering, compressing, treating, processing and selling natural gas; storing, fractionating, treating, transporting and selling NGLs and NGL products; gathering, storing and terminaling crude oil; and storing, terminaling and selling refined petroleum products.
The principal executive offices of Targa Resources Partners are located at 1000 Louisiana, Suite 4300, Houston, TX 77002 and its telephone number is 713-584-1000.
CONTACT: Investor contact: 713-584-1133 Jennifer Kneale Director, Finance Matt Meloy Senior Vice President, Chief Financial Officer and Treasurer
Source:Targa Resources Partners LP