PITTSBURGH - EQT Corporation (NYSE: NYSE:EQT (ST:EQTAB)), an independent natural gas production company, has priced a public offering of $750 million in senior notes with a 5.750% interest rate, maturing in 2034. The offering is scheduled to close on January 19, 2024, pending customary closing conditions.
The proceeds from the sale of the notes are intended to repay part of the borrowings under EQT's term loan facility. These borrowings were initially incurred for the acquisition of Tug Hill and XcL Midstream. In connection with the offering, and contingent upon the repayment, EQT plans to amend the term loan facility to extend its maturity from June 30, 2025, to June 30, 2026.
J.P. Morgan Securities LLC, MUFG Securities Americas Inc., TD Securities (USA) LLC, and Wells Fargo (NYSE:WFC) Securities, LLC have been appointed as
Headquartered in Pittsburgh, EQT focuses its operations in the Marcellus and Utica Shales within the Appalachian Basin. The company emphasizes operational efficiency, technology, and sustainability in its approach to producing low-cost and environmentally responsible energy.
The information for this article is based on a press release statement.
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