EQT closes midstream joint venture with Blackstone Credit & Insurance

Published by Alfred Hamer, Editorial Assistant
World Pipelines, Thursday, 02 January 2025 10:00

EQT Corp. announced that it has closed on the formation and funding of its previously announced midstream joint venture (JV) with an affiliate of Blackstone Credit & Insurance.

EQT received US$3.5 billion of cash consideration, net of certain transaction fees and expenses, from BXCI in exchange for a non-controlling common equity interest in the JV. EQT used the proceeds from this transaction to pay down its term loan and revolving credit facility and the bridge term loan facility that was used to fund the previously announced redemption and repurchase of certain senior notes of EQM Midstream Partners, LP, including pursuant to a tender offer, which expired and settled today.

Read the article online at: https://www.worldpipelines.com/business-news/02012025/eqt-closes-midstream-joint-venture-with-blackstone-credit-insurance/

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