CANONSBURG, Pa.--(BUSINESS WIRE)--Equitrans Midstream Corporation (NYSE: ETRN) today announced that its wholly owned subsidiary, EQM Midstream Partners, LP (EQM), intends to offer, subject to market conditions, $1.75 billion in aggregate principal amount of senior unsecured notes  in a private offering. EQM intends to use the net proceeds from the offering of the Notes to repay outstanding term loan borrowings, to purchase a portion of its outstanding indebtedness in tender offers with respect to several series of outstanding notes, which commenced on January 4, 2021, with a maximum aggregate principal amount of $350 million (the Tender Offers), and for general partnership purposes. In the event the Tender Offers are not consummated, or the net proceeds from the offering are otherwise in excess of the amount needed to fund the Tender Offers, EQM intends to use any remaining proceeds to repay certain of its outstanding indebtedness, including borrowings under its $3 billion credit facility, or to prefund capital expenditures and/or capital contributions to Mountain Valley Pipeline, LLC.

The offering of the Notes has not been registered under the Securities Act of 1933, as amended (Securities Act), or any state securities laws and, unless so registered, the Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes are being offered only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons in transactions outside the United States pursuant to Regulation S under the Securities Act.

This news release is neither an offer to sell nor a solicitation of an offer to buy the Notes or any other securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale is unlawful.