EQT to price $1 billion two-part unsecured notes offering on Monday

By Paul A. Harris

Portland, Ore., May 10 – EQT Corp. plans to price $1 billion of senior notes in two tranches in a Monday drive-by trailing a conference call with investors, according to market sources.

The deal includes five-year notes, which come with two years of call protection and initial guidance in the mid-to-high 3% area.

The offering also includes a 10-year bullet tranche with initial guidance in the low 4% area. The bullet features a par call six months prior to maturity.

Tranche sizes remain to be determined.

Joint bookrunner BofA Securities Inc. will bill and deliver. J.P. Morgan Securities LLC, MUFG, PNC Capital Markets LLC, Barclays, Citigroup Global Markets Inc., RBC Capital Markets LLC, Wells Fargo Securities LLC, Credit Suisse Securities (USA) LLC, Mizuho Securities USA Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC and U.S. Bancorp Investments Inc. are also joint bookrunners.

SMBC Nikko Securities America Inc., BNY Mellon Capital Markets LLC, Citizens Capital Markets Inc. and WauBank are the co-managers.

The Pittsburgh-based energy company plans to use the proceeds to finance a portion of its acquisition of Alta Resources Development LLC.

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