New Issue: EQT Midstream Partners sells $500 million 4.125% 10-year notes at 240 bps spread

By Cristal Cody

Eureka Springs, Ark., Nov. 1 – EQT Midstream Partners, LP sold $500 million of 4.125% 10-year senior notes (Ba1/BBB-/BBB-) at 99.191 to yield 4.224% on Tuesday, according to an FWP filing with the Securities and Exchange Commission.

The notes priced with a spread of 240 basis points over Treasuries.

The bookrunners were Deutsche Bank Securities Inc., BofA Merrill Lynch, MUFG, BNP Paribas Securities Corp., PNC Capital Markets LLC, Scotiabank, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc. and Wells Fargo Securities LLC.

Proceeds will be used to repay debt outstanding under the company’s credit facility and for general partnership purposes.

EQT Midstream Partners is a Pittsburgh-based energy company.

Issuer:	EQT Midstream Partners, LP
Amount:	$500 million
Description:	Senior notes
Maturity:	Dec. 1, 2026
Bookrunners:	Deutsche Bank Securities Inc., BofA Merrill Lynch, MUFG, BNP Paribas Securities Corp., PNC Capital Markets LLC, Scotiabank, SunTrust Robinson Humphrey Inc., U.S. Bancorp Investments Inc., Wells Fargo Securities LLC
Co-managers:	CIBC World Markets Corp., Huntington Investment Co.
Coupon:	4.125%
Price:	99.191
Yield:	4.224%
Spread:	Treasuries plus 240 bps
Call feature:	Before Sept. 12, 2026 at greater of par and Treasuries plus 37.5 bps; on or after par call date at par
Trade date:	Nov. 1
Settlement date:	Nov. 4
Ratings:	Moody’s: Ba1
	S&P: BBB-
	Fitch: BBB-
Distribution:	SEC registered

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