The Firm recently represented the initial purchasers, led by Wells Fargo Securities, LLC (“Wells Fargo”) in connection with a Rule 144A and Reg S offering of $600 million aggregate principal amount of 6.375% Senior Notes due 2029 by EQM Midstream Partners, LP (“EQM”), a wholly owned subsidiary of Equitrans Midstream Corporation (“ETRN”). EQM used the proceeds to repay a portion of the amounts outstanding under its revolving credit facility.
ETRN has a premier asset footprint in the Appalachian Basin and, as the parent company of EQM, is one of the largest natural gas gatherers in the United States. Through its strategically located infrastructure assets in the Marcellus and Utica regions, ETRN has an operational focus on gas transmission and storage systems, gas gathering systems, and water services that support natural gas development and production across the Appalachian Basin.
The Simpson Thacher team included Brian E. Rosenzweig, Maggie Selbe and Adam Danciu (Capital Markets); Jon Cantor and Jiha Min (Tax); Andrew O’Brien (Executive Compensation and Employee Benefits); Rachelle Broida (Intellectual Property); and Andrew J. Pagliughi (Blue Sky).