EQT Midstream to repay term loan facility debt via new note proceeds

By Tali Rackner

Minneapolis, June 20 – EQT Midstream Partners, LP plans to repay the amounts outstanding under its term loan facility using the net proceeds from three new senior note offerings, according to a 424B5 filing with the Securities and Exchange Commission.

As of June 15, there was $1,825,000,000 outstanding under the term loan facility, which is scheduled to mature on April 24, 2019.

On April 25, EQT entered into a merger agreement with Rice Midstream Partners LP, Rice Midstream Management LLC, EQM Acquisition Sub, LLC and EQM GP Acquisition Sub, LLC.

If the proposed merger is completed, the company said it plans to use a portion of the net note proceeds to repay the borrowings outstanding under the Rice Midstream Partners revolving credit facility. If the proposed merger is not consummated, those proceeds will be used for general partnership purposes.

The energy company is based in Pittsburgh.

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