debt
confidence high
sentiment neutral
materiality 0.70
EQT announces early results of tender and exchange offers; 79% of EQT 3.9% notes tendered, EQM consent achieved
EQT Corp
- EQT tender for $1.17B of 3.900% notes due 2027: 79% tendered; cap limits acceptance, likely no post-early acceptance.
- EQM tender for $900M of 6.500% notes due 2027: 56.2% tendered; combined with exchange offer totals 94.6%.
- Exchange offers for 7 other EQM note series: >97% tendered for 4 series, 82.6% for 2048 notes, 38.1% for 5.5% notes due 2028.
- Consents to eliminate restrictive covenants obtained for all EQM note series except 5.5% Senior Notes due 2028.
- Settlement for early tender participants expected on March 12; pricing of EQT tender offer announced separately.