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EQT Midstream Partners LP Announces Pricing Of Public Offering Of Common Units

Tuesday, 16 Jul 2013 06:43pm EDT 

EQT Midstream Partners LP announced the pricing of 11,000,000 common units representing limited partner interests at $43.50 per common unit. EQT Midstream Partners, LP (Partnership) has granted the underwriters a 30-day option to purchase up to an additional 1,650,000 common units. The Partnership intends to use the net proceeds from the offering to fund a portion of the cash distribution to be made to EQT Corporation in connection with the Partnership’s previously announced acquisition of Sunrise Pipeline, LLC (Sunrise). The Partnership intends to use the net proceeds from the underwriters’ exercise of their option to purchase additional common units, if any, including any proportionate capital contribution from the Partnership’s general partner to maintain its 2% general partner interest in the Partnership, for general partnership purposes. Citigroup, BofA Merrill Lynch, Barclays, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., J.P. Morgan, RBC Capital Markets, and Wells Fargo Securities are acting as joint book-running managers for the offering. PNC Capital Markets LLC, Mitsubishi UFJ Securities, SunTrust Robinson Humphrey, The Huntington Investment Company and Global Hunter Securities are acting as co-managers for the offering. 

Company Quote

2.37 +2.80%
12:32pm EST