EQT Corporation (the Company or EQT) (NYSE: EQT) announced today that it has priced an offering of $1.0 billion in aggregate principal amount of its 6.125% senior notes due February 1, 2025 and $750 million in aggregate principal amount of its 7.000% senior notes due February 1, 2030. The notes are being sold to the public at par. EQT expects the offering to close on January 21, 2020, subject to the satisfaction of customary closing conditions.
EQT expects to use the net proceeds from the sale of the notes to redeem all of its outstanding floating rate notes due 2020 and all of its outstanding 2.500% senior notes due 2020, with the remaining proceeds to be used to repay or redeem other indebtedness of the Company, including all or a portion of its outstanding 4.875% senior notes due 2021.
BofA Securities, Inc. and J.P. Morgan 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, when available, free of charge, on the Securities and Exchange Commission’s website at www.sec.gov or from the underwriters of the offering as follows: BofA Securities, Inc., Attn: Prospectus Department, 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001 or by calling 1-800-294-1322 or by email at email@example.com; and J.P. Morgan Securities LLC, Attn: Investment Grade Syndicate Desk, 383 Madison Avenue, New York, New York 10179, telephone: 212-834-4533.
This communication 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 Corporation
EQT Corporation is a natural gas production company with emphasis in the Appalachian Basin and operations throughout Pennsylvania, West Virginia and Ohio. With 130 years of experience and a long-standing history of good corporate citizenship, EQT is the largest producer of natural gas in the United States. As a leader in the use of advanced horizontal drilling technology, EQT is committed to minimizing the impact of drilling-related activities and reducing its overall environmental footprint. Through safe and responsible operations, EQT is helping to meet our nation’s demand for clean-burning energy, while continuing to provide a rewarding workplace and support for activities that enrich the communities where its employees live and work.
This communication contains 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 communication specifically include the expected closing of the sale of the notes and the anticipated use of the net proceeds from the offering. These forward-looking 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 Company has based these forward-looking statements on current expectations and assumptions about future events, taking into account all information currently available to the Company. While the Company 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 Company’s control. The risks and uncertainties that may affect the forward-looking statements include, but are not limited to, those set forth under Item 1A, "Risk Factors," of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, as filed with the Securities and Exchange Commission and as updated by subsequent Quarterly Reports on Form 10-Qs filed by the Company, and those set forth in the other documents the Company files from time to time with the SEC.
Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
Andrew Breese – Director, Investor Relations
Mike Laffin – Vice President, Communications