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 email@example.com
Morgan Stanley & Co. LLC Attn: Prospectus Department 180 Varick Street, 2nd Floor New York, NY 10014
c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, NY 11717
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 firstname.lastname@example.org
c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, New York 11717 Telephone: 1-888-603-5847 email@example.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.