On January 15, 2013, the Partnership announced a cash distribution for the fourth quarter 2012 of 68.00¢ per common unit, or $2.72 per unit on an annualized basis, representing an increase of approximately 3% over the third quarter 2012 and 13% over the distribution for the fourth quarter 2011. The cash distribution will be paid on February 14, 2013 on all outstanding common units to holders of record as of the close of business on January 28, 2013. The total distribution paid will be $90.9 million, with $60.2 million to the Partnership's third-party limited partners and $30.7 million to TRC for its ownership of common units, incentive distribution rights ("IDRs") and its 2% general partner interest in the Partnership.Targa Resources Partners - Capitalization, Liquidity and Financing Update Total funded debt at the Partnership as of December 31, 2012 was $2,393.3 million including $620.0 million outstanding under the Partnership's $1.2 billion senior secured revolving credit facility, $72.7 million of 11 1/4% senior unsecured notes due 2017, $250.0 million of 7 7/8% senior unsecured notes due 2018, $483.6 million of 6 7/8% senior unsecured notes due 2021, $400.0 million of 6 3/8% senior unsecured notes due 2022, $600.0 million of 5¼% senior unsecured notes due 2023 and $33.0 million of unamortized discounts. As of December 31, 2012, after giving effect to $45.3 million in outstanding letters of credit, the Partnership had available revolver capacity of $534.7 million and $68.0 million of cash resulting in total liquidity of $602.7 million. On January 10, 2013, the Partnership entered into an accounts receivable securitization facility (the "Securitization Facility"), that provides up to $200 million of borrowing capacity at favorable commercial paper rates plus an applicable margin through January 2014. Total funding under this Securitization Facility in January 2013 was $171.4 million. In January 2013, the Partnership issued 1,679,848 common units and received net proceeds of approximately $64.1 million from equity issuances under an equity distribution agreement, which allows the Partnership to periodically issue equity at prevailing market prices, less a commission. TRC also contributed $1.3 million to maintain its 2% general partnership interest.