HOUSTON--(BUSINESS WIRE)--Apr. 4, 2017--
Hess Midstream Partners LP (the “Partnership”) today announced the
pricing of its initial public offering of 14,780,000 common units
representing limited partner interests in the Partnership, at a public
offering price of $23.00 per common unit. The Partnership was initially
offering 12,500,000 common units at an estimated price range of $19.00
to $21.00 per common unit. In addition, the Partnership has granted the
underwriters a 30-day option to purchase up to an additional 2,217,000
common units at the initial public offering price. The common units are
expected to begin trading on April 5, 2017 on the New York Stock
Exchange under the ticker symbol “HESM.” The offering is expected to
close on April 10, 2017, subject to customary closing conditions.
Upon closing, the public will hold an approximate 26.5 percent limited
partner interest in the Partnership, or an approximate 30.5 percent
limited partner interest if the underwriters exercise in full their
option to purchase additional common units. Hess Corporation (“Hess”),
through certain of its subsidiaries, and Global Infrastructure Partners
II and its affiliates (“GIP”) will each own 50 percent of the remaining
limited partner interest in the Partnership, and Hess Infrastructure
Partners LP, a joint venture 50 percent owned by Hess and 50 percent
owned by GIP, will own all of the equity interests in the Partnership’s
general partner and all of the Partnership’s incentive distribution
rights.
Goldman, Sachs & Co., Morgan Stanley, Citigroup, J.P. Morgan, MUFG and
Wells Fargo Securities are acting as book-running managers for the
offering and Barclays, HSBC, ING Financial Markets, Scotia Howard Weil,
SMBC Nikko and TD Securities are acting as co-managers for the offering.
The offering of these securities is being made only by means of a
written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended. A copy of the prospectus may be
obtained from:
Goldman, Sachs & Co.
Attention: Prospectus Department
200
West Street
New York, NY 10282
Telephone: 1-866-471-2526
Facsimile:
212-902-9316
prospectus-ny@ny.email.gs.com
Morgan Stanley & Co. LLC
Attn: Prospectus Department
180
Varick Street, 2nd Floor
New York, NY 10014
Citigroup
c/o Broadridge Financial Solutions
1155 Long Island
Avenue
Edgewood, NY 11717
Telephone: 1-800-831-9146
J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long
Island Avenue
Edgewood, NY 11717
Telephone: 1-866-803-9204
Email:
prospectus-eq_fi@jpmchase.com
MUFG
Attn: Capital Markets Group
1221 Avenue of the Americas,
6th Floor
New York, New York 10020
Wells Fargo Securities
c/o Equity Syndicate Department
375
Park Avenue
New York, NY 10152
Telephone: 1-800-326-5897
cmclientsupport@wellsfargo.com
Barclays
c/o Broadridge Financial Solutions
1155 Long Island
Avenue
Edgewood, New York 11717
Telephone: 1-888-603-5847
barclaysprospectus@broadridge.com
HSBC Securities (USA) Inc.
452 Fifth Avenue
New York, NY 10018
ING Financial Markets LLC
1133 Avenue of the Americas
New
York, NY 10036
Scotia Capital (USA) Inc.
250 Vesey Street
New York, NY 10281
SMBC Nikko Securities America, Inc.
277 Park Avenue, 5th
Floor
New York, NY 10172
TD Securities (USA) LLC
31 W 52nd Street
New York, NY 10019
Telephone:
212-827-7392
A copy of the prospectus may be obtained free of charge by visiting the
U.S. Securities and Exchange Commission’s (the “SEC”) website at www.sec.gov.
A registration statement relating to these securities has been filed
with and declared effective by the SEC. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
securities, and shall not constitute an offer, solicitation or sale in
any jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities
laws of that jurisdiction.
About the Partnership
Hess Midstream Partners is a fee-based, growth-oriented, traditional
master limited partnership initially formed by Hess in 2014 to own,
operate, develop and acquire a diverse set of midstream assets to
provide services to Hess and third-party customers. The Partnership’s
initial assets are primarily located in the Bakken and Three Forks Shale
plays in the Williston Basin area of North Dakota.
About the Sponsors
Hess Corporation is a global independent energy company engaged in the
exploration and production of crude oil and natural gas.
Global Infrastructure Partners is an independent infrastructure fund
that invests in infrastructure assets and business across three core
sectors: energy, transportation and water/waste.
Forward Looking Statements
This press release may include forward-looking statements within the
meaning of the federal securities laws. Statements that do not relate
strictly to historical or current facts are forward-looking. These
statements contain words such as “possible,” “if,” “will” and “expect”
and involve risks and uncertainties including, among others, that the
Partnership’s business plans may change as circumstances warrant and
securities of the Partnership may not ultimately be sold to the public
because of general market conditions or other factors. When considering
these forward-looking statements, you should keep in mind the risk
factors and other cautionary statements in the Partnership’s prospectus
and SEC filings. The Partnership undertakes no obligation and does not
intend to update these forward-looking statements to reflect events or
circumstances occurring after this press release. You are cautioned not
to place undue reliance on these forward-looking statements, which speak
only as of the date of this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170404006536/en/
Source: Hess Midstream Partners LP
Investors:
For Hess Midstream Partners LP
Jennifer
Gordon, 212-536-8244
or
Media:
Sard
Verbinnen & Co
Patrick Scanlon, 212-687-8080
