UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): ~~December~~January 111, ~~2020~~2021

TARGA RESOURCES PARTNERS LP

(Exact name of registrant as specified in its charter)

Delaware	001-33303	65-1295427
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(IRS Employer Identification No.)
(State or other jurisdictionof incorporation or organization)	(Commission File Number)	(IRS EmployerIdentification No.)

811 Louisiana St, Suite 2100

Houston, TX 77002

(Address of principal executive office and Zip Code)

(713) 584-1000

(Registrants’ telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading symbol(s)		Name of each exchange on which registered
9.0% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units		NGLS/PA		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 15.0102 ~~Entry~~Departure ~~into~~of aDirectors ~~Material~~or ~~Definitive~~Certain ~~Agreement.~~Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

OnIncrease ~~December 11,~~in ~~2020,~~Size ~~Targa~~of ~~Resources Partners LP (~~the ~~“Partnership”)~~Board ~~and~~of ~~Targa~~Directors; ~~Receivables~~Appointment ~~LLC, a bankruptcy-remote special purpose entity that is an indirect wholly-owned subsidiary~~ of ~~the~~Paul ~~Partnership~~W. ~~(the~~Chung “SPV”), entered into a Commitment Increase Request with PNC Bank, National Association, as administrator, purchaser agent and LC Bank, and Wells Fargo Bank, National Association, as purchaser agent and LC Participant (the “Commitment Increase Request”) to the ~~Receivables~~Board ~~Purchase Agreement dated as~~ of ~~January 10, 2013 among the SPV, as seller, the Partnership, as servicer, the conduit~~ ~~purchasers,~~Directors; ~~the~~Appointment committed purchasers, the purchaser agents and the LC participants party thereto and PNC Bank, National Association, as administrator and LC Bank (the “Purchase Agreement”), which increases the Purchase Limit (as defined in the Purchase Agreement) of ~~the~~Paul ~~accounts receivable securitization facility (the “Facility”) from $250 million to $350 million~~W. AsChung ofas ~~December 11,~~Chairman ~~2020, after giving effect to the Commitment Increase Request, there were $250 million~~ of ~~trade receivable purchases outstanding under~~ the ~~Facility.~~Board ~~A copy~~ of ~~the~~Directors ~~Commitment Increase Request is filed as Exhibit 10.1 to this Current Report on Form 8-K.~~

~~The~~Targa ~~foregoing~~GP ~~description~~Inc., the sole member of Targa Resources GP LLC (the ~~Commitment~~“General ~~Increase~~Partner”), ~~Request~~the ~~does~~general ~~not~~partner ~~purport~~of toTarga beResources ~~complete~~Partners ~~and~~LP is(the ~~qualified~~“Partnership”) inincreased ~~its~~the ~~entirety~~size byof ~~reference~~the Board of Directors (the “Board”) of the General Partner from twelve members to thirteen members and appointed Mr. Paul W. Chung, age 60, to the ~~full~~Board ~~text~~to fill the newly created position, effective January 1, 2021. The Board also appointed Mr. Chung to the position of Chairman of the ~~Commitment~~Board ~~Increase~~of ~~Request~~the General Partner. In addition to his service on the General Partner’s Board, ~~which~~Mr. Chung iswill ~~incorporated~~also byserve ~~reference~~on ~~herein~~the board of directors of Targa Resources Corp. (the “Company”), effective January 1, 2021.

~~The~~On ~~committed~~January 4, ~~purchasers~~2020, orthe ~~their~~Company ~~respective affiliates~~announced ~~have~~that ~~performed~~Mr. Joe ~~investment~~Bob ~~banking~~Perkins, ~~financial~~age ~~advisory~~60, ~~and~~resigned ~~commercial~~from ~~banking~~his ~~services~~position ~~for~~as ~~the~~Executive ~~Partnership~~Chairman ~~and~~of ~~certain~~the Board of ~~its~~the ~~affiliates~~General Partner, ~~for~~effective ~~which they have received customary compensation~~December 31, ~~and~~2020. ~~they~~Mr. Perkins ~~may~~will continue to doserve soas ina ~~the~~member ~~future. The Partnership or its affiliates have entered into commodity swap transactions with certain~~ of the ~~committed~~Board, ~~purchasers~~which orhe ~~their~~joined ~~respective affiliates with terms the Partnership believes to be customary~~ in ~~connection with such transactions~~2012.

~~Item~~There 9are no understandings or arrangements between Mr.01 Chung ~~Financial~~and ~~Statements~~any other person pursuant to which Mr. Chung was selected to serve as a director of the General Partner. Mr. Chung has served as Executive Vice President and ~~Exhibits~~Senior Legal Advisor of the Company and the General Partner since March 1, 2020. Mr. Chung previously served as Executive Vice President, General Counsel and Secretary of the Company since its formation in October 2005 until March 2020 and of the General Partner between October 2006 and March 2020. He also served as an officer of an affiliate of the Company during 2004 and 2005. Mr. Chung served as Executive Vice President and General Counsel of Coral Energy Holding, L.P from 1999 to April 2004; Shell Trading North America Company, a subsidiary of Shell Oil Company, from 2001 to April 2004; and Coral Energy, LLC from 1999 to 2001. In these positions, he was responsible for all legal and regulatory affairs. He served as Vice President and Assistant General Counsel of Tejas from 1996 to 1999. Prior to 1996, Mr. Chung held a number of legal positions with different companies, including the law firm of Vinson & Elkins L.L.P. There are no relationships between Mr. Chung and the Partnership or any of its subsidiaries that would require disclosure pursuant to Item 404(a) of Regulation S-K.

~~(d)~~2 ~~Exhibits.~~

ExhibitNumber		Description
10.1		Commitment Increase Request, dated December 11, 2020, by and among Targa Receivables LLC, as seller, the Partnership, as servicer, and PNC Bank, National Association, as administrator, purchaser agent and LC Bank, and Wells Fargo Bank, National Association, as purchaser agent and LC Participant.

SIGNATURES

2Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

~~SIGNATURES~~Dated: January 6, 2021

~~Pursuant~~TARGA toRESOURCES ~~the~~PARTNERS ~~requirements~~LP ofBy: ~~the~~Targa ~~Securities~~Resources ~~Exchange~~GP ~~Act of 1934~~LLC,its ~~the~~general ~~registrant~~partner ~~has~~By: ~~duly~~/s/ ~~caused~~Jennifer ~~this~~R. ~~report~~Kneale toJennifer beR. ~~signed~~Kneale onChief ~~its~~Financial ~~behalf by the undersigned thereunto duly authorized.~~ Officer

~~Dated:~~3 ~~December 14, 2020~~

TARGA RESOURCES PARTNERS LP By: Targa Resources GP LLC, its general partner By: /s/ Jennifer R. Kneale Jennifer R. Kneale Chief Financial Officer

Filing Compare · Targa Resources Partners LP