Equitrans Midstream Announces Pricing of Private Offering of Senior Notes
February 21 2024 - 4:27PM
Business Wire
Equitrans Midstream Corporation (NYSE: ETRN) (ETRN) today
announced that its wholly owned subsidiary, EQM Midstream Partners,
LP (EQM), has priced an offering of $600 million in aggregate
principal amount of its 6.375% senior notes due 2029 (the Notes).
The Notes will be issued at a price of par. EQM intends to use the
net proceeds from the offering of the Notes to repay certain
outstanding indebtedness, including borrowings under EQM’s Third
Amended and Restated Credit Agreement, dated as of October 31,
2018, as amended, and for general partnership purposes. Subject to
the satisfaction of customary closing conditions, the offering is
expected to close on February 26, 2024.
The offering of the Notes has not been registered under the
Securities Act of 1933, as amended (the Securities Act), or any
state securities laws and, unless so registered, the Notes may not
be offered or sold in the United States except pursuant to an
exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and applicable
state securities laws. The Notes are being offered only to persons
reasonably believed to be qualified institutional buyers pursuant
to Rule 144A under the Securities Act and to non-U.S. persons in
transactions outside the United States pursuant to Regulation S
under the Securities Act.
This news release is neither an offer to sell nor a solicitation
of an offer to buy the Notes or any other securities and shall not
constitute an offer to sell or a solicitation of an offer to buy,
or a sale of, the Notes or any other securities in any jurisdiction
in which such offer, solicitation or sale is unlawful. This news
release is not a notice of redemption for any of the existing
notes.
Cautionary Statement Regarding Forward-Looking
Information
Disclosures in this news release contain certain forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and Section 27A of the Securities
Act. Statements that do not relate strictly to historical or
current facts are forward-looking. These statements may discuss
goals, intentions and expectations as to future plans, trends,
events, results of operations or financial condition, or otherwise,
based on current beliefs of the management of ETRN, as well as
assumptions made by, and information currently available to, such
management. Words such as “aim,” “anticipate,” “approximate,”
“aspire,” “assume,” “believe,” “budget,” “continue,” “could,”
“design,” “estimate,” “expect,” “focused,” “forecast,” “goal,”
“guidance,” “intend,” “may,” “objective,” “opportunity,” “outlook,”
“plan,” “position,” “potential,” “predict,” “project,” “pursue,”
“scheduled,” “seek,” “should,” “strategy,” “strive,” “target,”
“view,” “will,” or “would” and similar expressions are used to
identify forward-looking statements. These statements are subject
to various risks and uncertainties, many of which are outside of
ETRN’s and EQM’s control. Without limiting the generality of the
foregoing, forward-looking statements contained in this news
release specifically include statements relating to the anticipated
closing of the offering, including the expected timing thereof and
the anticipated source and use of proceeds therefrom, as
applicable. These forward-looking statements involve risks and
uncertainties that could cause actual results to differ materially
from projected results.
Accordingly, investors should not place undue reliance on
forward-looking statements as a prediction of actual results. ETRN
and EQM have based these forward-looking statements on current
expectations and assumptions about future events. While ETRN and
EQM consider these expectations and assumptions to be reasonable,
they are inherently subject to significant business, economic,
competitive, regulatory, judicial, construction and other risks and
uncertainties, many of which are difficult to predict and are
beyond ETRN’s and EQM’s control. The risks and uncertainties that
may affect the operations, performance and results of ETRN’s and
EQM’s business and forward-looking statements include, but are not
limited to, those set forth in ETRN’s publicly filed reports with
the Securities and Exchange Commission (the SEC), including those
set forth under Item 1A, “Risk Factors” of ETRN’s Annual Report on
Form 10-K for the year ended December 31, 2023 and ETRN’s
subsequent filings.
Any forward-looking statement speaks only as of the date on
which such statement is made, and ETRN does not intend to correct
or update any forward-looking statement, unless required by
securities laws, whether as a result of new information, future
events or otherwise. As forward-looking statements involve
significant risks and uncertainties, caution should be exercised
against placing undue reliance on such statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20240221290648/en/
Analyst/Investor inquiries: Anthony DeFabio – Treasurer
and Director, Investor Relations 412.518.7193
adefabio@equitransmidstream.com
Media inquiries: Natalie A. Cox — Vice President,
Communications and Corporate Affairs
ncox@equitransmidstream.com
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