DT Midstream Inc.

09/26/2024 | Press release | Distributed by Public on 09/26/2024 06:01

Regulation FD Disclosure Form 8 K

Item 7.01. Regulation FD Disclosure.

Millennium Pipeline Company, LLC ("Millennium") is a joint venture that owns a 263-mile interstate transportation pipeline and compression facilities serving markets in the northeast, in which DT Midstream, Inc. ("DT Midstream") indirectly owns a 52.5% interest. On September 24, 2024, Millennium Pipeline Intermediate Holdings LLC ("Millennium Holdings"), a newly formed holding company above Millennium, closed on the private placement of an aggregate $800 million senior unsecured notes with a weighted-average coupon rate of 5.88%, the net proceeds of which were distributed pro rata to the joint venture owners. Following closing, DT Midstream received a distribution of $420 million from Millennium Holdings, less fees and expenses. DT Midstream intends to use the net proceeds of its distribution to repay all of the Term Loan Facility borrowings outstanding under its Credit Agreement and for general corporate purposes.