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

Targa Resources Partners LP Announces $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 that, subject to market
conditions, they intend to sell in an offering in the United States to
qualified institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the "Securities Act"), and to persons outside of the
United States pursuant to Regulation S under the Securities Act, $625 million
in aggregate principal amount of senior unsecured notes due 2023. 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 acquisitions.

The securities to be 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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