EQT and EQM Launch Tender and Exchange Offers for Senior Notes, Including $4.54B Exchange of EQM Notes

EQT Corp

EQT and EQM commenced tender offers for any and all of EQM's $900M 6.500% Senior Notes due 2027 and up to $750M of EQT's 3.900% Notes due 2027.
EQT also launched exchange offers for up to $4.54B aggregate principal amount of EQM's outstanding notes for new EQT notes and cash.
Concurrent consent solicitations seek to eliminate restrictive covenants in EQM indentures, effective upon purchase or exchange.
Early tender date is March 7, 2025, with a $50 per $1,000 early tender premium; settlement expected March 12 and March 26.
The moves follow EQT's June 2024 acquisition of Equitrans Midstream; pro forma financials for year ended Dec 31, 2024.

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