EQT Shareholders Approve 2025 Stock Purchase Plan and Officer Exculpation Bylaw Amendment at Annual Meeting

At its Annual Meeting held on April 16, EQT Corporation announced shareholder approval of several key proposals, including the adoption of the EQT Corporation 2025 Employee Stock Purchase Plan. The plan will allow employees to acquire EQT common stock at a discounted rate through payroll deductions beginning in Q1 2026, promoting long-term ownership and alignment with company performance.

Shareholders also approved an amendment to the company's bylaws providing for officer exculpation under Pennsylvania law, limiting personal liability for certain officers in specific legal circumstances.

Additionally, all ten nominated directors were elected to one-year terms, the 2024 executive compensation package received non-binding approval, and Ernst & Young LLP was ratified as the company’s independent auditor for fiscal year 2025. All proposals passed with a majority of votes cast in favor.

The meeting results reflect continued investor support for EQT’s corporate governance initiatives and employee-focused incentives.

EQT to Redeem $73.5 Million in Senior Notes Due 2028

Pittsburgh, PA – EQT Corporation announced that its subsidiary EQM Midstream Partners, LP will redeem all outstanding 5.500% Senior Notes due 2028 on May 1, 2025. The total principal to be redeemed is $73.46 million. The redemption will be made in accordance with the terms specified in the notes' governing indenture.

EQT Corporation Reports $679 Million Derivative Loss for First Quarter 2025

EQT Corporation announced preliminary financial results for the first quarter of 2025, expecting to record a total loss on derivatives of $679 million for the three-month period ending March 31, 2025. The substantial loss reflects unfavorable market movements impacting the company’s hedging strategies for natural gas and associated products.

In addition to the reported loss, EQT estimates net cash settlements paid on derivatives totaling $92 million for the quarter, broken down as follows:

$43 million in net cash settlements paid on NYMEX natural gas hedge positions

$49 million in net cash settlements paid on basis and liquids hedge positions

EQT noted that there were no premiums paid or received for derivatives that settled during the quarter.

These figures are preliminary and subject to change pending the release of the company's official first-quarter results, which will be included in its upcoming Form 10-Q filing or earnings release.

The company emphasized that the figures disclosed are for informational purposes only and should not be considered filed for liability purposes under the Securities Exchange Act.

EQT Corporation Completes Exchange Offers and Issues New Senior Notes

PITTSBURGH – April 2, 2025 – EQT Corporation (NYSE: EQT) today announced the successful completion of its previously announced private exchange offers and consent solicitations involving outstanding notes issued by its subsidiary, EQM Midstream Partners, LP (“EQM”). As part of the settlement, EQT issued new senior notes in exchange for approximately $4.87 billion in aggregate principal amount of EQM notes.

The exchange offers resulted in eight new series of EQT senior notes, with maturities ranging from 2027 to 2048 and interest rates between 4.50% and 7.50%. These new notes were issued under supplemental indentures to EQT’s existing base indenture with The Bank of New York Mellon as trustee. The new notes will bear interest payable semi-annually and are redeemable at EQT’s discretion.

Additionally, EQT entered into a Registration Rights Agreement with the dealer managers, under which EQT has agreed to file a registration statement to exchange the new unregistered notes for registered notes by March 28, 2026. If EQT fails to meet specified deadlines or the registration statement becomes ineffective for extended periods, it may be required to pay additional interest of up to 1.0% on the notes.

As of settlement, EQT also made effective supplemental indentures to the governing EQM indentures (excluding EQM’s 5.500% Senior Notes due 2028), removing several covenants, including limitations on liens, sale-leasebacks, and mergers, as well as the change-of-control repurchase requirement.

The EQT Notes were issued in reliance on exemptions from SEC registration under the Securities Act of 1933 and are not registered for public resale.

EQT Extends Exchange Offer Deadline and Waives Consent Condition

EQT Corporation has extended the deadline for its exchange offers and consent solicitations related to EQM Midstream Partners’ outstanding notes. The new expiration date is March 28, 2025, with settlement expected on April 2. EQT also waived a previous condition requiring full consent on proposed indenture amendments, despite not receiving enough consents for EQM’s 5.500% senior notes due 2028.

As of March 7, most noteholders had already tendered, with participation exceeding 97% for several series. The initiative is part of EQT’s plan to streamline its debt structure.

All other terms remain unchanged. The offers are only available to qualified institutional buyers or non-U.S. persons.

EQT Extends Exchange Offer Deadline and Waives Consent Condition

On March 24, 2025, EQT Corporation announced the extension of its previously launched exchange offers and consent solicitations for outstanding EQM Midstream Partners notes. The expiration date was moved from March 24 to March 28, 2025. EQT also waived the consent threshold condition, which had required majority consent from all noteholders to adopt proposed amendments to EQM’s existing indentures.

As of the early tender date on March 7, 2025, sufficient consents were received for all notes except the 5.500% Senior Notes due 2028. Despite no additional tenders or consents being received since March 7, the company has opted to proceed by waiving the unmet condition.

Notably, a concurrent tender offer had already secured 94.6% of the 6.500% Senior Notes due 2027 when combined with the exchange offer.

The exchange offers are only available to qualified institutional buyers or non-U.S. persons, and the new notes to be issued have not been registered under U.S. securities laws. Settlement is expected on April 2, 2025.

EQT emphasized that all other terms of the offer remain unchanged and that participation decisions should be based on the detailed offering documents.

EQT Corporation Announces Amendments to EQM Midstream Partners' Indentures Amid Tender and Exchange Offers
Pittsburgh, PA – March 12, 2025 – EQT Corporation (NYSE: EQT) has announced that EQM Midstream Partners, LP (EQM), its indirect wholly owned subsidiary, has received the requisite consents to amend certain indentures governing its outstanding notes as part of its Tender Offer and Exchange Offers.

The amendments eliminate restrictive covenants and certain provisions from the affected indentures, including limitations on liens, sale-leaseback transactions, and mergers. These changes took effect upon execution of the Supplemental Indentures on March 12, 2025, but will only become operative upon the completion of the Tender and Exchange Offers.

The Tender and Exchange Offers are set to expire on March 24, 2025, at 5:00 PM ET, unless extended. The amendments do not apply to EQM’s 5.500% Senior Notes due 2028, which did not receive the required consents.

These transactions are part of EQT’s broader efforts to streamline its capital structure, enhance financial flexibility, and reduce restrictive covenants.

EQT Corporation Announces Early Results of Tender and Exchange Offers
Pittsburgh, PA – March 10, 2025 – EQT Corporation (NYSE: EQT) has released early results for its previously announced tender offers and exchange offers, including amendments to indentures governing certain outstanding notes.

Key Announcements:
1. EQM Tender Offer and Consent Solicitation
EQM Midstream Partners, LP (EQM), a wholly owned subsidiary of EQT, launched a tender offer to purchase for cash any and all of its 6.500% Senior Notes due 2027.
A consent solicitation was conducted alongside this offer to amend the indenture governing these notes, aiming to eliminate restrictive covenants and certain events of default.
2. EQT Tender Offer
EQT also initiated a separate tender offer to purchase its 3.900% Senior Notes due 2027.
The early results of this offer have been disclosed, including the pricing details.
3. Exchange Offers and Indenture Amendments
EQT has launched private exchange offers to swap outstanding EQM-issued notes (the “Existing EQM Notes”) for up to $4.54 billion in new EQT-issued notes plus cash.
Consent solicitations for indenture amendments were also conducted.
Key development: The required consents were obtained for all EQM notes except for the 5.500% Senior Notes due 2028.
Additional Information:
The tender offers and consent solicitations are governed by EQT’s and EQM’s Offer to Purchase and Consent Solicitation Statement (dated February 24, 2025).
The exchange offers are conducted under EQT’s and EQM’s Offering Memorandum and Consent Solicitation Statement (dated February 24, 2025).
The exchange offers are private and exempt from SEC registration.
For further details, see the full press releases attached to the Form 8-K filed with the U.S. Securities and Exchange Commission (SEC).

eqt corporation (nyse: eqt) announced the pricing of its tender offer for its outstanding 3.900% senior notes due 2027. the company is offering to purchase these notes for cash, with a total consideration of $987.82 per $1,000 principal amount for those tendered by march 7, 2025. the early settlement date for accepted notes is expected to be march 12, 2025.

eqt has set a tender cap of $750 million, adjusting based on concurrent offers involving eqm midstream partners, lp’s 6.500% senior notes due 2027. as the total value of notes tendered exceeded the cap, eqt will accept notes on a pro-rata basis, and no additional notes are expected to be purchased after the early tender date.

the tender offer is subject to the terms detailed in eqt's offer to purchase, with j.p. morgan securities and td securities serving as lead dealer managers.

Scotiabank downgrades EQT from buy to hold