HOUSTON – Hess Midstream Operations LP, a subsidiary of Hess Midstream LP (NYSE: HESM), announced today its intention to offer $500 million in senior unsecured notes due in 2029. The company aims to use the proceeds from this private offering to reduce its existing debt under its revolving credit facility, with any remaining funds allocated for general corporate purposes.
The notes will be available only to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in compliance with Regulation S under the Securities Act of 1933, as amended. These securities have not been registered under the Securities Act or any state securities laws and will not be offered or sold in the United States without registration or an applicable exemption from these requirements.
Hess Midstream LP is a growth-oriented midstream company that operates a variety of assets, including those for handling oil, gas, and produced water. Their operations primarily support Hess Corporation (NYSE:) and third-party customers in the Williston Basin area of North Dakota, which encompasses the Bakken and Three Forks Shale plays.
The announcement includes forward-looking statements, which are based on projections and anticipated results, and are subject to risks and uncertainties that could cause actual outcomes to differ materially. Hess Midstream LP has noted that it does not plan to update these statements and advises caution when relying on them.
This news is based on a press release statement and does not constitute an offer to sell or a solicitation of an offer to buy the notes or any other securities. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed.
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Hess Midstream Operations LP (NYSE: HESM) is reinforcing its financial structure with the planned offering of $500 million in senior unsecured notes. The move is part of the company’s strategy to optimize its balance sheet, which is reflected in its robust financial metrics. As of the last twelve months as of Q1 2024, Hess Midstream boasts a Market Cap of approximately $7.87 billion and a healthy Gross Profit Margin of 76.52%, underlining its operational efficiency.
The company’s commitment to shareholder returns is evident through its consistent dividend payments, having maintained them for 8 consecutive…
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