EQT Corporation Announces Tender Offer Results

PITTSBURGH, Dec. 10, 2024 /PRNewswire/ —

EQT Corporation (NYSE: EQT) (“EQT” and, collectively with its subsidiaries, the “Company”) today announced the early results and upsizing of the previously announced tender offer (the “Tender Offer”) by its indirect wholly owned subsidiary, EQM Midstream Partners, LP (“EQM”), to purchase for cash EQM’s outstanding 6.500% Senior Notes due 2048 (the “2048 Notes”), 5.500% Senior Notes due 2028 (the “2028 Notes”), 4.50% Senior Notes due 2029 (the “2029 Notes”) and 7.500% Senior Notes due 2030 (the “2030 Notes” and, collectively with the 2048 Notes, the 2028 Notes and the 2029 Notes, the “Notes”) and the early results of the related Consent Solicitation (as defined below) with respect to the 2028 Notes and the 2048 Notes. EQM has amended the Tender Offer to increase the maximum aggregate purchase price, excluding accrued and unpaid interest, for Notes that may be purchased from $1.275 billion to $1.3 billion (the “Maximum Aggregate Purchase Price”).

The Tender Offer has received a positive response from investors, leading to an increase in the Maximum Aggregate Purchase Price. This indicates confidence in EQM and its subsidiaries, reflecting positively on the company’s financial health and stability.

As EQT Corporation continues to navigate the evolving market conditions, this tender offer demonstrates its proactive approach to managing its debt obligations and optimizing its capital structure. By refinancing existing debt at favorable terms, the Company aims to enhance its overall financial flexibility and position itself for future growth opportunities.

How This Will Affect You

As a stakeholder in EQT Corporation or EQM Midstream Partners, LP, the results of the tender offer and the upsizing of the Maximum Aggregate Purchase Price may impact your investment portfolio. It is advisable to consult with your financial advisor to understand the implications for your specific circumstances and make informed decisions about your holdings.

How This Will Affect the World

The successful execution of this tender offer by EQT Corporation sets a positive example for other companies in the energy sector. By proactively managing their debt obligations and optimizing their capital structures, companies can strengthen their financial positions and enhance investor confidence. This can ultimately contribute to a more stable and resilient economy.

Conclusion

In conclusion, EQT Corporation’s announcement regarding the tender offer results and upsizing of the Maximum Aggregate Purchase Price reflects its commitment to financial prudence and strategic debt management. By taking proactive steps to address its debt obligations, EQT is positioning itself for long-term success and sustainable growth in the dynamic energy market.