EQM Midstream Partners to price $800 million notes in two bullet tranches on Wednesday

By Paul A. Harris

Portland, Ore., June 16 – EQM Midstream Partners LP plans to price $800 million of senior notes (Ba3/BB-/BB) in two bullet tranches on Wednesday, according to market sources.

The master limited partnership is offering notes with five-year and seven-year maturities.

The five-year notes have early guidance in the 6½% area. The seven-year notes have early guidance in the 7% area.

J.P. Morgan Securities LLC is leading the sale.

Proceeds will be used to pay down a revolving credit facility.

The prospective issuer owns and operates interstate pipelines and gathering lines primarily serving Marcellus Shale production. The company is based in Canonsburg, Pa.

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