Latham & Watkins Advises Equitrans Midstream in Upsized Private Offering of Senior Notes and Tender Offer

Equitrans Midstream Corporation (NYSE: ETRN) has announced that its wholly owned subsidiary, EQM Midstream Partners, LP (EQM), has priced an upsized offering of US$800 million in aggregate principal amount of its 4.5% senior notes due 2029; and US$1.1 billion in aggregate principal amount of its 4.75% senior notes due 2031 (collectively, Notes). EQM intends to use the net proceeds from the offering of the Notes to repay outstanding term loan borrowings, to purchase up to US$500 million of its outstanding indebtedness in tender offers with respect to several series of existing notes, and for general partnership purposes.

Latham & Watkins LLP represents Equitrans Midstream in the transaction with a Houston-based team led by partners Ryan Maierson and Nick Dhesi, with associates Madeleine Neet, Drew West, Jessica Sherman and Benjamin Marek. Advice was also provided on finance matters by Houston partner Matthew Jones, with associates Max Fin and Matthew Snodgrass; on tax matters by Houston partner Tim Fenn and Los Angeles partner Larry Stein, with Houston associate Jared Grimley; on benefits and compensation matters by Washington, D.C. partner Adam Kestenbaum, with associate Kirk Porter; and on environmental matters by Houston partner Joel Mack and Los Angeles counsel Joshua Marnitz.