EQT lifts commitments to $2.5 billion upon closing Rice Energy merger

By Marisa Wong

Morgantown, W.Va., Nov. 14 – EQT Corp.’s second amended and restated credit agreement dated July 31 increased to $2.5 billion from $1.5 billion on Nov. 13, according to an 8-K filing with the Securities and Exchange Commission.

The lender commitments were increased in connection with EQT completing its acquisition of Rice Energy Inc. on Monday.

In addition, some existing letters of credit issued for Rice and its subsidiaries were transferred to EQT’s credit agreement.

The company now has $1.25 billion of borrowings and $224.4 million of letters of credit outstanding under the credit agreement.

PNC Bank is the administrative agent.

EQT is an integrated energy company based in Pittsburgh.

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