EQT Midstream Partners, LP Commences Initial Public Offering
PITTSBURGH--(BUSINESS WIRE)-- EQT Midstream Partners, LP, a
Delaware limited partnership (the Partnership) and an EQT
Corporation company, today announced it has commenced an
initial public offering of 12,500,000 common units
representing limited partner interests pursuant to a
registration statement on Form S-1 filed with the U.S.
Securities and Exchange Commission (SEC). The underwriters
will be granted a 30-day option to purchase up to an
additional 1,875,000 common units. The common units of the
Partnership will be listed and traded on the New York Stock
Exchange, under the symbol "EQM."
The common units being offered to the public represent a
35.3% limited partner interest in the Partnership, or 40.6%
limited partner interest if the underwriters exercise their
over-allotment option in full. EQT Corporation will hold a 2%
general partner interest and a 62.7% limited partner interest
in the Partnership, or 57.4% if the underwriters exercise
their over-allotment option in full. Citigroup, Barclays,
BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities
are acting as joint book-running managers for the offering;
Deutsche Bank Securities, Goldman, Sachs & Co. and RBC
Capital Markets are acting as co-managers for the offering.
This offering of common units will be made only by means of a
prospectus. When available, a written prospectus, which meets
the requirements of Section 10 of the Securities Act of 1933,
may be obtained through:
A registration statement relating to these securities has
been filed with the SEC but has not yet become effective.
These securities may not be sold nor may offers to buy be
accepted prior to the time the registration statement becomes
effective. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About EQT Midstream Partners:
EQT Midstream Partners, LP is a growth-oriented master
limited partnership formed by EQT Corporation to own,
operate, acquire and develop midstream assets in the
Appalachian basin. We provide midstream services to EQT
Corporation and third-party companies through our two primary
assets: Equitrans Transmission and Storage System, and
Equitrans Gathering System. We have a 700 mile
FERC-regulated, interstate pipeline system and more than
2,100 miles of FERC-regulated, low-pressure gathering lines.
Disclosures in this press release contain certain
forward-looking statements. Statements that do not relate
strictly to historical or current facts are forward-looking.
These statements involve risks and uncertainties including,
among others that our business plans may change as
circumstances warrant and securities of the Partnership may
not ultimately be offered to the public because of general
market conditions or other factors. Accordingly, investors
should not place undue reliance on forward-looking statements
as a prediction of actual results.