PITTSBURGH, March 24, 2026 /PRNewswire/ -- EQT Corporation $(EQT)$ ("EQT" and, collectively with its consolidated subsidiaries, the "Company") today announced the early results and upsizing of its previously announced tender offer to purchase for cash (the "Tender Offer") certain of its outstanding 3.900% Senior Notes due 2027, 6.375% Senior Notes due 2029, 4.50% Senior Notes due 2029, 5.00% Senior Notes due 2029, 4.75% Senior Notes due 2031, 3.625% Senior Notes due 2031, 7.000% Senior Notes due 2030 and 7.500% Senior Notes due 2030 (collectively, the "Notes"). EQT has amended the Tender Offer to (i) increase the maximum aggregate purchase price, excluding accrued and unpaid interest, for all Notes that may be purchased from $1.15 billion to $1.4 billion (the "Aggregate Offer Cap") and (ii) increase the maximum aggregate purchase price, excluding accrued and unpaid interest, for the 6.375% Senior Notes due 2029, 4.50% Senior Notes due 2029 and 5.00% Senior Notes due 2029, collectively, that may be purchased from $750 million to $1.0 billion. All other terms and conditions of the Tender Offer remain unchanged and are described in the Offer to Purchase dated March 10, 2026 (as amended and supplemented by this news release and as it may be further amended or supplemented from time to time, the "Offer to Purchase"). Capitalized terms used but not defined herein have the meanings ascribed thereto in the Offer to Purchase.
The principal amount of each series of Notes that were validly tendered as of 5:00 p.m., New York City time, on March 23, 2026 (the "Early Tender Date"), as well as certain other terms of the Tender Offer, are set forth in the table below. Withdrawal rights for the Tender Offer expired at 5:00 p.m., New York City time, on March 23, 2026. As a result, tendered Notes may no longer be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law. In this news release, all Notes that have been validly tendered and not validly withdrawn are referred to as having been "validly tendered."
Approximate
Percentage
of
Outstanding
Principal Notes
Amount Tendered at
Principal Acceptance Tendered at Early
CUSIP Amount Offer Priority Early Tender Tender
Title of Notes Number Outstanding SubCap Level Date Date
-------------- ---------- -------------- -------------- ---------- -------------- -----------
3.900% Senior
Notes due
2027 26884LAF6 $936,158,000 $400,000,000 1 $657,134,000 70.2 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
26884LAZ2
/
6.375% Senior 26884LAY5
Notes due /
2029 U2689EAF7 $596,725,000 $1,000,000,000 2 $547,736,000 91.8 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
26884LAX7
/
4.50% Senior 26884LAW9
Notes due /
2029 U2689EAE0 $734,583,000 3 $705,274,000 96.0 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
5.00% Senior
Notes due
2029 26884LAL3 $318,494,000 4 $227,081,000 71.3 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
26884LBD0
/
4.75% Senior 26884LBC2
Notes due /
2031 U2689EAH3 $1,090,218,000 N/A 5 $1,006,098,000 92.3 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
3.625% Senior 26884LAN9
Notes due /
2031 U2689EAB6 $435,165,000 N/A 6 $340,813,000 78.3 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
7.000% Senior
Notes due
2030 26884LAG4 $674,800,000 N/A 7 $441,844,000 65.5 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
26884LBB4
/
7.500% Senior 26884LBA6
Notes due /
2030 U2689EAG5 $494,086,000 N/A 8 $452,300,000 91.5 %
-------------- ---------- -------------- -------------- ---------- -------------- -----------
Because the aggregate purchase price, excluding accrued and unpaid interest, for Notes validly tendered on or prior to the Early Tender Date will be greater than the Aggregate Offer Cap, EQT will accept Notes for purchase based on the Acceptance Priority Procedures and the proration procedures described in the Offer to Purchase, and EQT does not expect to accept for purchase any tenders of Notes after the Early Tender Date.
Payment for Notes validly tendered by the Early Tender Date and accepted for purchase is expected to be made on March 26, 2026. EQT's obligation to accept for payment and to pay for Notes validly tendered in the Tender Offer is subject to the satisfaction or waiver of a number of conditions described in the Offer to Purchase. EQT reserves the right, subject to applicable law, to hereafter (i) waive or modify, in whole or in part, any or all conditions of the Tender Offer, (ii) extend, terminate or withdraw the Tender Offer, (iii) increase or decrease the Aggregate Offer Cap or either or both Offer SubCaps or (iv) otherwise amend the Tender Offer in any respect.
Citigroup Global Markets Inc. and BofA Securities, Inc. are severally acting as the Lead Dealer Managers for the Tender Offer. Any persons with questions regarding the Tender Offer should contact (i) Citigroup Global Markets Inc. by calling (800) 558-3745 (toll-free) or (212) 723-6106 (collect) or emailing ny.liabilitymanagement@citi.com or (ii) BofA Securities, Inc. by calling (888) 292-0070 (toll-free) or (980) 287-6959 (collect) or emailing debt_advisory@bofa.com.
The Information Agent and Tender Agent is Global Bondholder Services Corporation. Copies of the Offer to Purchase and any related Tender Offer materials may be obtained from Global Bondholder Services Corporation by calling (212) 430-3774 (banks and brokers, collect) or (855) 654-2015 (all others, toll-free) or by emailing contact@gbsc-usa.com.
This news release is for informational purposes only. The Tender Offer is being made only pursuant to the Offer to Purchase, and the information in this news release is qualified by reference to the Offer to Purchase. Further, this news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities. No recommendation is made as to whether holders should tender any Notes in response to the Tender Offer. Holders of Notes must make their own decision as to whether to participate in the Tender Offer and, if so, the principal amount of Notes to tender.
Investor Contact
Cameron Horwitz
Managing Director, Investor Relations & Strategy
412.445.8454
Cameron.Horwitz@eqt.com
About EQT Corporation
EQT Corporation is a premier, vertically integrated American natural gas company with upstream and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day -- trust, teamwork, heart, and evolution are at the center of all we do.
Cautionary Statements
This news release contains certain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the generality of the foregoing, forward-looking statements contained in this news release specifically include statements regarding EQT's plans and expected timing with respect to the Tender Offer.
(MORE TO FOLLOW) Dow Jones Newswires
March 24, 2026 06:30 ET (10:30 GMT)
Comments