M&A: EQT Corp

Form Type: 8-K

Filing Date: 2024-12-31

Corporate Action: Acquisition

Type: New

Accession Number: 000110465924132856

Comments: On December 30, 2024, EQT Corporation completed a joint venture transaction with an affiliate of Blackstone Credit & Insurance, forming a new midstream joint venture. Under this agreement, EQM Midstream Partners and other subsidiaries conveyed midstream assets in exchange for Class A Units in the Joint Venture, while Blackstone contributed $3.5 billion and received Class B Units. The funds enabled EQT to settle existing borrowings under a term loan and revolving credit facility. Additionally, EQM executed a redemption of $400 million in Senior Notes and repurchased approximately $1.258 billion in various Senior Notes as part of a Tender Offer. The company engaged in a Bridge Facility credit agreement for $2.3 billion to finance these operations, which included a guaranty from EQT.

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