Simpson Thacher recently represented the initial purchasers, led by BofA Securities, Inc. and J.P. Morgan Securities LLC, in connection with a Rule 144A/Regulation S offering by EQT Corporation (“EQT”) of $500 million aggregate principal amount of 3.125% Senior Notes due 2026 and $500 million aggregate principal amount of 3.625% Senior Notes due 2031. EQT intends to use the net proceeds to partially fund the acquisition of all of the issued and outstanding equity interests of Alta Marcellus Development, LLC and ARD Operating, LLC (together, “Alta”), which collectively hold all of the upstream and midstream assets of Alta Resources Development, LLC.
Simpson Thacher also represented Bank of America, N.A., BofA Securities, Inc. and JPMorgan Chase Bank, N.A., as joint lead arrangers in connection with their commitments to provide a $1 billion 364-day term loan bridge facility to EQT to finance the acquisition of Alta.
EQT 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 Jonathan Ozner, Eva Kang and Ben Pittenger (Capital Markets); Brandan Still and Evan West (Banking and Credit); Marcy Geller and Edward Grais (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Andrew Pagliughi (Blue Sky).