In June 2013 the Partnership paid $106.4 million plus accrued interest to redeem $100 million of the outstanding 6⅜% senior unsecured notes due 2022.
During the six months ended June 30, 2013, the Partnership issued 5,971,395 common units representing net proceeds of approximately $260.3 million from equity issuances under equity distribution agreements, which allow the Partnership to periodically issue equity at prevailing market prices, less a commission. TRC also contributed $5.4 million to maintain its 2% general partnership interest.
In July 2013, the Partnership redeemed the outstanding principal amount of the 11¼% senior unsecured notes due 2017 for $80.9 million, including accrued interest.
The Partnership estimates that its total growth capital expenditures for 2013 will be approximately $1.0 billion on a gross basis, and that maintenance capital expenditures net to the Partnership's interest will be $85 million.Targa Resources Corp. - Second Quarter 2013 Financial Results Targa Resources Corp., the parent of Targa Resources Partners, reported its second quarter 2013 results. The Company, which as of June 30, 2013 owned a 2% general partner interest (held through its 100% ownership interest in the general partner of the Partnership), all of the IDRs and 12,945,659 common units of the Partnership, presents its results consolidated with those of the Partnership. TRC reported net income available to common shareholders of $15.0 million for the second quarter 2013 compared with a net income available to common shareholders of $8.6 million for the second quarter 2012. The net income per diluted common share was $0.36 in the second quarter of 2013 compared to $0.21 for the second quarter of 2012. Second quarter 2013 distributions to be paid on August 14, 2013 by the Partnership to the Company will be $35.9 million, with $9.3 million, $24.6 million and $2.0 million paid with respect to common units, IDRs and general partner interests, respectively.