EQT Midstream Partners Announces Pricing of Public Offering of Common Units

PITTSBURGH--()--EQT Midstream Partners, LP (NYSE: EQM), an EQT Corporation company, announced today the pricing of 8,250,000 common units representing limited partner interests at $76.00 per common unit. EQT Midstream Partners, LP (Partnership) has granted the underwriters a 30-day option to purchase up to an additional 1,237,500 common units.

The Partnership intends to use the net proceeds from the offering to fund a portion of the purchase price for the acquisition of the Northern West Virginia Marcellus Gathering System and a preferred interest in an EQT subsidiary.

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.

Wells Fargo Securities and J.P. Morgan are acting as joint book-running managers for the offering. Barclays, BofA Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank Securities, Goldman, Sachs & Co., and RBC Capital Markets are also acting as joint book-running managers for the offering. When available, 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:

Wells Fargo Securities     J.P. Morgan
Attn: Equity Syndicate Dept. c/o Broadridge Financial Solutions
375 Park Avenue 1155 Long Island Avenue
New York, NY 10152 Edgewood, NY 11717

cmclientsupport@wellsfargo.com

Telephone: 1-888-803-9204

Telephone: 1-800-326-5897

 

Barclays BofA Merrill Lynch
c/o Broadridge Financial Solutions Attn: Prospectus Department
1155 Long Island Avenue 222 Broadway
Edgewood, NY 11717 New York, NY 10038

barclaysprospectus@broadridge.com

Dg.prospectus_requests@baml.com

Telephone: 1-888-603-5847
 
Citigroup Credit Suisse

c/o Broadridge Financial Solutions

Attn: Prospectus Department
1155 Long Island Avenue One Madison Avenue
Edgewood, NY 11717 New York, NY 10010
Telephone: 1-888-831-9146

Atnewyork.prospectus@credit-suisse.com

Telephone: 1-800-221-1037
 
Deutsche Bank Securities Goldman, Sachs & Co.
Attn: Prospectus Group Attn: Prospectus Department
60 Wall Street 200 West Street
New York, NY 1005-2836 New York, NY 10282

Prospectus.CPDG@db.com

Telephone: 1-866-471-2526
Telephone: 1-800-503-4611
 
RBC Capital Markets
Attn: Equity Syndicate
Three World Financial Center
200 Vesey Street, 8th Floor
New York, NY 10281
Telephone: 1-877-822-4089
 

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus and related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

About EQT Midstream Partners:

EQT Midstream Partners, LP is a growth-oriented limited partnership formed by EQT Corporation to own, operate, acquire, and develop midstream assets in the Appalachian Basin. The Partnership provides midstream services to EQT Corporation and third-party companies through its strategically located transmission, storage, and gathering systems that service the Marcellus and Utica regions. The Partnership owns 700 miles and operates an additional 200 miles of FERC-regulated interstate pipelines; and also owns more than 1,500 miles of high- and low-pressure gathering lines.

Cautionary Statements

Disclosures in this news release contain certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include the expectations of plans, strategies, objectives and growth of the Partnership and its subsidiaries, including guidance regarding the number of units to be sold in the offering and the Partnership’s expected use of proceeds from the offering. These statements involve risks and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The Partnership has based these forward-looking statements on current expectations and assumptions about future events. While the Partnership considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive, regulatory and other risks and uncertainties, many of which are difficult to predict and beyond the Partnership’s control. The risks and uncertainties that may affect the operations, performance and results of the Partnership’s business and forward-looking statements include, but are not limited to, those risks discussed in the Partnership’s most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made and the Partnership does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts

EQT Midstream Partners
Analyst inquiries please contact:
Nate Tetlow – Investor Relations Director, 412-553-5834
ntetlow@eqtmidstreampartners.com
or
Patrick Kane – Chief Investor Relations Officer, 412-553-7833
pkane@eqtmidstreampartners.com
or
Media inquiries please contact:
Natalie Cox – Corporate Director, Communications, 412-395-3941
ncox@eqtmidstreampartners.com

Contacts

EQT Midstream Partners
Analyst inquiries please contact:
Nate Tetlow – Investor Relations Director, 412-553-5834
ntetlow@eqtmidstreampartners.com
or
Patrick Kane – Chief Investor Relations Officer, 412-553-7833
pkane@eqtmidstreampartners.com
or
Media inquiries please contact:
Natalie Cox – Corporate Director, Communications, 412-395-3941
ncox@eqtmidstreampartners.com