CNX Resources Corporation announced a private offering of $500 million senior notes due 2034 and commenced a cash tender offer for any and all of its outstanding $500 million 6.000% senior notes due 2029, with a conditional redemption notice for remaining notes. Net proceeds will fund the tender offer and redemption, with potential revolver draw if needed.
Key takeaways
Private offering of $500 million senior notes due 2034, guaranteed by restricted subsidiaries guaranteeing revolving credit facility
Cash tender offer for any and all $500 million 6.000% senior notes due 2029 at $1,016.10 per $1,000 principal
Tender offer expires February 23, 2026, settlement expected February 26, 2026
Conditional redemption of remaining 2029 notes at 101.50% of principal on March 19, 2026
Tender offer and redemption conditioned on closing of new notes offering
Use of proceeds: fund tender offer and redemption, reduce revolver borrowings