Targa Resources Partners LP Prices $625 Million Offering of Senior Notes

Targa Resources Partners LP Prices $625 Million Offering of Senior Notes

HOUSTON, May 9, 2013 (GLOBE NEWSWIRE) -- Targa Resources Partners LP ("Targa
Resources Partners" or the "Partnership") (NYSE:NGLS) and its subsidiary Targa
Resources Partners Finance Corporation announced today the pricing of $625
million of senior unsecured notes. The 4.25 percent notes mature November 15,
2023 and were priced at 100% percent of the principal amount to yield 4.25

The offering is expected to close on May 14, 2013, subject to customary
closing conditions. The Partnership intends to use the net proceeds from the
offering to reduce borrowings under its senior secured credit facility, and
will use the remaining proceeds for general partnership purposes, which may
include repaying other indebtedness, redeeming or repurchasing some of its
outstanding notes, working capital and funding capital expenditures and

The securities offered have not been registered under the Securities Act, or
any state securities laws, and unless so registered, the securities may not be
offered or sold in the United States except pursuant to an exemption from, or
in a transaction not subject to, the registration requirements of the
Securities Act and applicable state securities laws. The senior unsecured
notes are expected to be eligible for trading by qualified institutional
buyers under Rule 144A and non-US persons under Regulation S. This
announcement shall not constitute an offer to sell or a solicitation of an
offer to buy any of these securities, except as required by law.

Forward-Looking Statements

Certain statements in this release are "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. All statements, other
than statements of historical facts, included in this release that address
activities, events or developments that the Partnership expects, believes or
anticipates will or may occur in the future are forward-looking statements.
These forward-looking statements rely on a number of assumptions concerning
future events and are subject to a number of uncertainties, factors and risks,
many of which are outside Targa Resources Partners' control, which could cause
results to differ materially from those expected by management of Targa
Resources Partners. Such risks and uncertainties include, but are not limited
to, weather, political, economic and market conditions, including a decline in
the price and market demand for natural gas and natural gas liquids, the
timing and success of business development efforts; and other uncertainties.
These and other applicable uncertainties, factors and risks are described more
fully in the Partnership's Annual Report on Form 10-K for the year ended
December 31, 2012 and other reports filed with the Securities and Exchange
Commission. Targa Resources Partners undertakes no obligation to update or
revise any forward-looking statement, whether as a result of new information,
future events or otherwise.

CONTACT: Investor contact:
         Matt Meloy
         Senior Vice President, Chief Financial Officer and Treasurer
         Chris McEwan
         Director, Finance
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