April 26, 2018 / 10:54 AM / 7 months ago

BRIEF-EQT Midstream Partners, EQT GP Holdings, And Rice Midstream Partners Announce Streamlining Transaction

April 26 (Reuters) - EQT GP Holdings LP:

* EQT MIDSTREAM PARTNERS, EQT GP HOLDINGS, AND RICE MIDSTREAM PARTNERS ANNOUNCE STREAMLINING TRANSACTION

* RICE MIDSTREAM PARTNERS LP - EQT WILL RECEIVE $1.15 BILLION IN CASH AND 5.9 MILLION EQM COMMON UNITS AND GULFPORT ENERGY WILL RECEIVE $175 MILLION IN CASH

* RICE MIDSTREAM PARTNERS LP - STREAMLINING TRANSACTION IS EXPECTED TO BE IMMEDIATELY ACCRETIVE TO BOTH EQM AND EQGP'S DISTRIBUTABLE CASH FLOW PER UNIT

* RICE MIDSTREAM - EQM ENTERED DEFINITIVE AGREEMENT WITH EQT TO ACQUIRE ITS OLYMPUS GATHERING SYSTEM, ITS 75% INTEREST IN STRIKE FORCE GATHERING SYSTEM

* RICE MIDSTREAM PARTNERS LP - EQM AND RMP HAVE ENTERED INTO DEFINITIVE MERGER AGREEMENT UNDER WHICH EQM WILL ACQUIRE RMP IN A UNIT-FOR-UNIT TRANSACTION

* RICE MIDSTREAM PARTNERS LP - EACH HOLDER OF COMMON UNIT OF RMP WILL RECEIVE 0.3319 UNITS OF EQM, REPRESENTING EQUITY VALUE OF $2.1 BILLION

* RICE MIDSTREAM PARTNERS LP - EQM WILL ALSO ASSUME RMP DEBT, WHICH TOTALED $325 MILLION AS OF MARCH 31, 2018

* RICE MIDSTREAM PARTNERS LP - EQGP HAS ENTERED INTO DEFINITIVE AGREEMENT WITH EQT TO ACQUIRE ITS OWNERSHIP OF RMP IDRS FOR 36.3 MILLION EQGP COMMON UNITS

* RICE MIDSTREAM PARTNERS LP - EQM HAS ENTERED INTO A $2.5 BILLION 364-DAY SYNDICATED TERM LOAN FACILITY

* RICE MIDSTREAM PARTNERS - EQM EXPECTS TO BORROW UNDER $2.5 BILLION TERM LOAN FACILITY TO FINANCE CASH CONSIDERATION OF OHIO GATHERING ASSETS ACQUISITION

* RICE MIDSTREAM PARTNERS - EQM EXPECTS TO ALSO BORROW UNDER TERM LOAN FACILITY TO FINANCE 2018 EXPANSION CAPEX, MVP CAPITAL CONTRIBUTIONS

* RICE MIDSTREAM - BOARDS OF EQT AND EACH OF EQGP, EQM AND RMP, AS WELL AS CONFLICTS COMMITTEES OF EQGP, EQM AND RMP, UNANIMOUSLY APPROVED DEALS

* RICE MIDSTREAM PARTNERS LP - EQM SEES NET INCOME FOR 2018 OF $0.70 BILLION - $0.80 BILLION, FOR 2019 $0.95 BILLION - $1.05 BILLION

* RICE MIDSTREAM PARTNERS LP - SEES EQM 2018 EXPANSION CAPEX + MVP CAPITAL CONTRIBUTIONS $1.6 BILLION - $1.8 BILLION

* RICE MIDSTREAM PARTNERS LP - SEES 2019 EQM EXPANSION CAPEX + MVP CAPITAL CONTRIBUTIONS $0.9 BILLION - $1.1 BILLION

* RICE MIDSTREAM PARTNERS LP - SEES 2020 EQM EXPANSION CAPEX + MVP CAPITAL CONTRIBUTIONS $0.5 BILLION - $0.7 BILLION Source text for Eikon: Further company coverage:

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