The Firm recently represented the initial purchasers, led by J.P. Morgan Securities LLC, Barclays Capital Inc. and Credit Suisse Securities (USA) LLC, in the offering of $500 million aggregate principal amount of 1.75% Convertible Senior Notes due 2026 by EQT Corporation, which includes the full exercise of the initial purchasers’ option to purchase additional Notes. A portion of the net proceeds were used to pay the cost of the capped call transactions described below. EQT Corporation intends to use the remainder of the proceeds to repay or redeem certain of its outstanding indebtedness and for general corporate purposes.
In addition, the Firm represented certain of the initial purchasers and/or their respective affiliates in connection with the capped call transactions relating to the common stock of EQT Corporation, entered into concurrently with the offering of the Notes.
EQT Corporation is a natural gas production company with operations focused in the cores of the Marcellus and Utica Shales in the Appalachian Basin.
The Simpson Thacher team included Roxane Reardon, Jonathan Ozner, Matt Hart, Matt Petrone and Carina Kan (Capital Markets); Jonathan Lindabury, Caitlin Wood and Nathan Utterback (Derivatives); Marcy Geller, Eli Shalam and Edward Grais (Tax); Michael Isby (Environmental); Jeanne Annarumma (ERISA); and Andrew Pagliughi (Blue Sky).