EQT Reports Early Results, Upsizing of EQM Midstream's Tender Offer

MT Newswires Live
2024-12-11

EQT (EQT) reported Tuesday the early results and upsizing of a tender offer by its EQM Midstream Partners subsidiary to buy for cash EQM's 6.5% senior notes due 2048, 5.5% senior notes due 2028, 4.5% senior notes due 2029, and 7.5% senior notes due 2030.

EQM has amended the tender offer to increase the purchase price to $1.3 billion from $1.275 billion, EQT said.

The percentage of notes tendered at the early tender date of Dec. 9 was 85.4% for the 6.5% notes, 86% for the 5.5% notes, 94.5% for the 4.5% notes, and 76.1% for the 7.5% notes, the company said.

The tender offer is slated to expire on Dec. 30, but because the purchase price for notes tendered on or before the early tender date is more than the maximum purchase price, EQM doesn't expect to accept any tenders of notes after the early tender date, the company said.

Price: 43.24, Change: -0.03, Percent Change: -0.07

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