HOUSTON–(BUSINESS WIRE)–Hess Midstream Partners LP (the “Partnership”) today announced that it has commenced its initial public offering of 12,500,000 common units representing limited partner interests in the Partnership, at an anticipated initial public offering price between $19 and $21 per common unit, pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the “SEC”). The underwriters of the offering will have a 30-day option to purchase up to an additional 1,875,000 common units at the initial public offering price. The common units are expected to trade on the New York Stock Exchange under the ticker symbol “HESM.”
The common units being offered to the public represent an approximate 22.5 percent limited partner interest in the Partnership, or an approximate 25.8 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. When available, a copy of the prospectus may be obtained from: