By Andrea Heisinger
New York, May 12 - EQT Corp. priced an upsized $700 million of 8.125% 10-year senior notes Tuesday at Treasuries plus 500 basis points, according to an FWP filing with the Securities and Exchange Commission.
The size was originally $500 million, a market source said.
The notes (Baa1/BBB/BBB+) priced at 99.668 to yield 8.173%. They have a make-whole call at Treasuries plus 50 bps.
Bookrunners were Banc of America Securities LLC, Barclays Capital, Citigroup Global Markets, J.P. Morgan Securities and Wachovia Capital Markets.
Senior co-managers were BMO Capital Markets, Mitsubishi UFJ Securities, PNC Capital Markets and SunTrust Robinson Humphrey.
Junior co-managers were BNP Paribas Securities, Deutsche Bank Securities, RBS Securities and SG Americas Securities.
Proceeds will be used to repay amounts under a revolving credit facility and for general corporate purposes.
The energy exploration and production company is based in Pittsburgh.
| Issuer: | EQT Corp.
|
| Issue: | Senior notes
|
| Amount: | $700 million, increased from $500 million
|
| Maturity: | June 1, 2019
|
| Bookrunners: | Banc of America Securities LLC, Barclays Capital, Citigroup Global Markets, J.P. Morgan Securities, Wachovia Capital Markets
|
| Senior co-managers: | BMO Capital Markets, Mitsubishi UFJ Securities, PNC Capital Markets, SunTrust Robinson Humphrey
|
| Junior co-managers: | BNP Paribas Securities, Deutsche Bank Securities, RBS Securities, SG Americas Securities
|
| Coupon: | 8.125%
|
| Price: | 99.668
|
| Yield: | 8.173%
|
| Spread: | Treasuries plus 500 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | May 12
|
| Settlement date: | May 15
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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