debt
confidence high
sentiment neutral
materiality 0.50
Hess Midstream Operations LP issues $400M 5.500% senior notes due 2030
Hess Midstream LP
- Issued $400M aggregate principal of 5.500% senior notes due 2030 under an indenture dated August 8, 2022.
- Proceeds used to repay revolver borrowings that funded repurchase of 13,559,322 Class B units from HINDL and GIP.
- Notes rank equally with existing senior debt, effectively subordinated to secured debt, and unsecured.
- Issuer may redeem up to 40% before Oct 2025 at 105.5% with equity proceeds, or at make-whole premium.
- Notes fully and unconditionally guaranteed by all wholly owned subsidiaries that guarantee the revolving credit facility.