Early Results of EQT Corporation's and EQM Midstream Partners, LP's Tender Offers and Consent Solicitation

Core Points - EQT Corporation announced early results of its tender offers for EQM Midstream Partners' and its own senior notes, aiming to purchase outstanding notes for cash [1][2] - The EQM Tender Offer targets the purchase of all 6.500% Senior Notes due 2027, while the EQT Tender Offer focuses on 3.900% Senior Notes due 2027, with a total purchase price capped at $750 million [1][2] - The early tender date for the offers was March 7, 2025, with payment for validly tendered notes expected on March 12, 2025 [3][5] Tender Offer Details - As of the early tender date,$506.209 million (56.2%) of EQM's 6.500% Senior Notes and $924.429 million (79.0$1,026.25 per $1,000 principal amount, while the total consideration for EQT Notes will be determined based on a fixed spread and U.S. Treasury yield [6] - The tender offers will expire on March 24, 2025, unless extended or terminated earlier [7] Consent Solicitation - EQM has received the necessary consents from EQM Holders to adopt proposed amendments to the indenture governing the EQM Notes, which will eliminate most restrictive covenants [9] - Holders who validly tender their EQM Notes in the concurrent exchange offer will also be deemed to have consented to the proposed amendments [8][9] Additional Information - TD Securities (USA) LLC and J.P. Morgan Securities LLC are serving as lead dealer managers for the tender offers and consent solicitation [10] - The information agent for the tender offers is Global Bondholder Services Corporation, which can provide additional details [12]