Bracewell Advises Targa Resources Corp. in $2 Billion Bridge Loan and $1.5 Billion Term Loan

NEW YORK — Bracewell LLP advised Targa Resources Corp. in a $2 billion unsecured bridge loan and a $1.5 billion unsecured term loan to finance the acquisition of Lucid Energy Delaware, LLC.

This acquisition extends and further strengthens Targa’s position in the core of the Delaware Basin.

Lucid Energy offers crude oil and natural gas gathering, treating, processing, compression and transportation services.

Targa Resources Corp. is a leading provider of midstream services and is one of the largest independent midstream infrastructure companies in North America.

Bracewell lawyers involved in the transaction Include:

Partners: Jeris D. Brunette and Robin J. Miles

Associate: Kiara Pillay