EQT launches $1.15 billion tender offer for senior notes

EQT Corporation (NYSE: EQT) announced it has commenced a cash tender offer to purchase up to $1.15 billion of its outstanding senior notes across eight different series with maturity dates ranging from 2027 to 2031.

The tender offer includes notes with interest rates from 3.625% to 7.500% and various maturity dates. The company has set specific caps within the overall limit, including $400 million for its 3.900% Senior Notes due 2027 and $750 million combined for three series of 2029 notes.

The offer will expire at 5:00 p.m. New York time on April 8, 2026, unless extended. Holders who tender their notes by March 23, 2026 will receive an early tender premium of $30 per $1,000 principal amount in addition to the base consideration.

Notes will be accepted based on priority levels, with the 3.900% notes due 2027 having the highest priority. If the tender offer receives more submissions than the caps allow, notes may be subject to proration.

EQT stated the purpose is to reduce its overall debt principal amount, and notes purchased will be retired. The company plans to finance the tender offer with cash on hand and potential borrowings under its revolving credit facility.

Additionally, EQT plans to redeem all outstanding 6.500% Senior Notes due 2027 on March 26, 2026, separate from this tender offer.

Citigroup Global Markets Inc. and BofA Securities, Inc. are serving as lead dealer managers for the tender offer. Global Bondholder Services Corporation is acting as information agent and tender agent.

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