EQT's Unit Launches Tender Offer of Senior Notes

MT Newswires Live11-25 21:42

EQT (EQT) said Monday its EQM Midstream Partners unit has launched a tender offer to buy its outstanding 6.500% senior notes due 2048, 5.500% senior notes due 2028, 4.50% senior notes due 2029, and 7.500% senior notes due 2030 for a total price of up to about $1.28 billion.

The unit will not purchase more than $300 million total principal amount of the 7.500% senior notes due 2030 in the offer, the company said.

The tender offer will expire at 5 pm ET on Dec. 30, while holders must tender their notes no later than Dec. 9, it added.

EQT said the tender will lower its overall total amount of debt, and its unit will fund the offer with borrowings under the bridge facility.

Shares of EQT were up over 4% in recent Monday premarket activity.

Price: 47.94, Change: +2.02, Percent Change: +4.40

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