Targa Resources Corp.  announced that, subject to market conditions, it intends to launch syndication of a $430 million senior secured term loan maturing seven years after closing. The company intends to use the net proceeds from the term loan issuance, in conjunction with a $670 million revolving credit facility, (i) to finance, in part, the proposed acquisition of Atlas Energy, L.P. following the spin-off of its non-midstream assets, (ii) to pay related fees and expenses and (iii) to refinance existing indebtedness.

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. The Partnership is a leading provider of midstream natural gas, NGL, terminaling and crude oil gathering services in the United States. The Partnership 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.