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EQT Midstream Partners, LP has priced an underwritten public offering of 5,650,000 common units representing limited partner interests. Total gross proceeds of the offering (before underwriters discounts and commissions and estimated offering expenses) will be approximately $406 million. EQT Midstream Partners, LP (EQM) has granted the underwriters a 30-day option to purchase up to an additional 847,500 common units.
EQM intends to use the net proceeds from the offering, including any net proceeds from the underwriters' exercise of their option to purchase additional common units, if any, for general partnership purposes, including to fund a portion of EQM's anticipated transmission and gathering expansion in 2016.
Citigroup and Barclays are acting as joint book-running managers for the offering.
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