Hess Infrastructure Partners LP Announces Closing of $800 Million of Senior Notes Due 2026 and Amended Credit Facilities

HOUSTON–(BUSINESS WIRE)–$HESM–Hess Infrastructure Partners LP (the “Partnership”), a midstream energy
joint venture between Hess Corporation and Global Infrastructure
Partners, and the sponsor of Hess Midstream Partners LP, a publicly
traded master limited partnership, today announced the closing of its
offering of $800 million in aggregate principal amount of 5.625% senior
notes due 2026 (the “Notes”) at par. The Notes are being sold only to
qualified institutional buyers in the United States pursuant to Rule
144A and outside the United States to non-U.S. Persons in compliance
with Regulation S under the Securities Act of 1933, as amended (the
"Securities Act"). Hess Infrastructure Partners Finance Corporation, a
direct, wholly owned subsidiary of the Partnership, serves as co-issuer
of the Notes, and the Notes are guaranteed by certain subsidiaries of
the Partnership. The Partnership used a portion of the net proceeds from
the offering to repay borrowings under its existing credit facilities
and to fund a distribution to its sponsors and expects to use the
remainder for general partnership purposes.

The Partnership also amended and restated its existing credit agreement,
effective November 22, 2017, to reduce the outstanding principal amount
of the term loan to $200 million and increase the commitments under its
undrawn revolving credit facility to $600 million. The new credit
facilities expire in November 2022 and are guaranteed by certain of the
Partnership’s wholly owned subsidiaries and secured by first-priority
perfected liens on substantially all of the Partnership’s and certain of
its wholly owned subsidiaries’ directly owned assets, including its
equity interests in certain subsidiaries, subject to customary
exclusions.

The Notes have not been and will not be registered under the Securities
Act or any state securities laws and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements of the Securities Act and applicable state
laws.

This press release is neither an offer to sell nor a solicitation of an
offer to buy the Notes or any other securities and shall not constitute
an offer to sell or a solicitation of an offer to buy, or a sale of, the
Notes or any other securities in any jurisdiction in which such offer,
solicitation or sale is unlawful.

About Hess Infrastructure Partners LP

Hess Infrastructure Partners LP is a midstream energy joint venture
between Hess Corporation and Global Infrastructure Partners. The
Partnership owns various operating companies that provide a diverse mix
of midstream oil and natural gas services in the core of the Bakken and
Three Forks shale plays in the Williston Basin area of North Dakota. The
Partnership also owns a 100% interest in the general partner of Hess
Midstream Partners LP, a publicly traded master limited partnership.

About Hess Midstream Partners LP

Hess Midstream Partners LP is a fee-based, growth-oriented, traditional
master limited partnership that was formed to own, operate, develop and
acquire a diverse set of midstream assets to provide services to Hess
and third-party customers. Hess Midstream Partners LP’s 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.

Cautionary Statement Relevant to Forward-Looking Information

This press release includes forward-looking statements regarding future
events. These forward-looking statements are based on the Partnership’s
current plans and expectations and involve a numbers of risks and
uncertainties that could cause actual results and events to vary
materially from the results and events anticipated or implied by such
forward-looking statements. While the Partnership may elect to update
these forward-looking statements at some point in the future, it
specifically disclaims any obligation to do so, even if new information
becomes available in the future. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date of this press release.

Contacts

Investors:
Hess Midstream Partners LP
Jennifer Gordon,
212-536-8244
Director – Investor Relations
or
Media:
Sard
Verbinnen & Co
Patrick Scanlon, 212-687-8080