PITTSBURGH--(BUSINESS WIRE)--EQT Corporation (the Company or EQT) (NYSE: EQT) announced today that it has priced an offering of $500 million in aggregate principal amount of its 2.50% senior notes due October 1, 2020, $750 million in aggregate principal amount of its 3.00% senior notes due October 1, 2022, and $1,250 million in aggregate principal amount of its 3.90% senior notes due October 1, 2027, at prices to the public of 99.992%, 99.738% and 99.918% of their face value, respectively. Additionally, EQT priced $500 million in aggregate principal amount of senior floating-rate notes due October 1, 2020, at a price to the public of 100% of their face value. EQT expects the offering to close on October 4, 2017, subject to the satisfaction of customary closing conditions.
EQT expects to use the net proceeds from the sale of the notes, together with cash on hand and borrowings under EQT's revolving credit facility, to fund the cash consideration payable by EQT in connection with the previously announced acquisition (the Merger) with Rice Energy Inc. (Rice); to pay expenses related to the Merger and the other transactions contemplated by the merger agreement with Rice -- including the extinguishment of approximately $1.9 billion of net debt and preferred equity of Rice and its subsidiaries (based on anticipated balances as of October 31, 2017); and for general corporate purposes -- which may include redeeming or repaying at maturity all or a portion of EQT's senior notes and medium term notes due in 2018.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. Copies of the preliminary prospectus supplement, prospectus supplement and accompanying base prospectus relating to the offering may be obtained, free of charge, on the Securities and Exchange Commission's website at www.sec.gov or from the underwriters of the offering as follows: Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by calling 1-800-831-9146 or by email at prospectus@citi.com; Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005-2836 or by calling 1-800-503-4611 or by email at prospectus.cpdg@.db.com; Merrill Lynch, Pierce, Fenner & Smith Incorporated, Attn: Prospectus Department, 200 North College Street, NC1-004-03-43, Charlotte, NC 28255-0001 or by calling 1-800-294-1322 or by email at dg.prospectus_requests@baml.com; and Wells Fargo Securities, LLC, Attn: WFS Customer Service, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402 or by calling 1-800-645-3751.
About EQT Corporation:
EQT Corporation is an integrated energy company with emphasis on Appalachian area natural gas production, gathering, and transmission. With more than 125 years of experience, EQT continues to be a leader in the use of advanced horizontal drilling technology – designed to minimize the potential impact of drilling-related activities and reduce the overall environmental footprint. Through safe and responsible operations, the Company is committed to meeting the country’s growing demand for clean-burning energy, while continuing to provide a rewarding workplace and enrich the communities where its employees live and work. EQT also owns a 90% limited partner interest in EQT GP Holdings, LP. EQT GP Holdings, LP owns the general partner interest, all of the incentive distribution rights, and a portion of the limited partner interests in EQT Midstream Partners, LP.
