EQT Corp. priced an offering of $1.75 billion senior notes consisting of $1 billion of 6.125% senior notes due Feb. 1, 2025, and $750 million of 7.000% senior notes due Feb. 1, 2030, at par, according to a Jan. 15 news release.
Proceeds will be used to redeem all of EQT's outstanding floating rate notes due 2020 and all of its outstanding 2.500% senior notes due 2020. The remaining proceeds will be used to repay or redeem other debt, which includes all or a portion of the company's outstanding 4.875% senior notes due 2021.
BofA Securities Inc. and J.P. Morgan Securities LLC are acting as joint book-running managers for the offering, which is expected to close Jan. 21.
EQT is the largest producer of natural gas in the U.S. with operations throughout Pennsylvania, West Virginia and Ohio.