Hess Midstream Partners LP sets IPO pricing terms

Hess Midstream Partners LP has set its IPO pricing terms of 12.5 million shares at between $19 and $21 per share. The company plans on trading the stock on the New York Stock Exchange under the ticker symbol “HESM.” Goldman Sachs, Morgan Stanley, Citigroup, J.P. Morgan, MUFG and Wells Fargo Securities are serving as the lead underwriters. Hess Midstream Partners is a master limited partnership formed by Hess Corporation and Global Infrastructure Partners to own, operate, develop and acquire midstream assets.

PRESS RELEASE

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:

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 Inc.
31 W 52nd Street
New York, NY 10019
Telephone: 212-827-7392

When available, a copy of the preliminary prospectus may also be obtained free of charge by visiting the SEC’s website at www.sec.gov.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. 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 businesses across three core sectors: energy, transportation and water/waste.