Simpson Thacher recently represented the underwriters, led by RBC Capital Markets, LLC, Mizuho Securities USA LLC and PNC Capital Markets LLC, in connection with a registered public offering by EQT Corporation (“EQT”) of $500 million aggregate principal amount of 5.678% Senior Notes due 2025 and $500 million aggregate principal amount of 5.7% Senior Notes due 2028. EQT intends to use the net proceeds to partially fund the cash consideration relating to its acquisition of all of the issued and outstanding membership interests of each of THQ Appalachia I Midco, LLC and THQ-XcL Holdings I Midco, LLC (the “Acquisition”).
Simpson Thacher also represented Royal Bank of Canada, Mizuho Bank, Ltd. and PNC Bank, National Association, as joint lead arrangers in connection with their commitments to provide to EQT a $1.25 billion unsecured bridge loan facility and a $1.25 billion unsecured term loan facility, in each case to finance the Acquisition.
EQT is a leading independent 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, Richie Ragusa and Jessica Ryan (Capital Markets); Brandan Still, Maggie Selbe and Jacob Sims (Banking and Credit); Jon Cantor and Scott Grundei (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Andrew Pagliughi (Blue Sky).