CNX Resources closes $500M offering of 7.375% senior notes due 2031; tender for 2027 notes oversubscribed

CNX Resources Corp

Issued $500M principal of 7.375% senior notes due Jan 15, 2031; interest payable semi-annually.
Tender for up to $350M of 7.25% notes due 2027 received $385.6M in tenders; proration factor ~90.8%.
Net proceeds used to purchase up to $350M of 2027 notes and repay revolver borrowings; remainder for general corporate purposes.
Notes guaranteed by all wholly-owned domestic restricted subsidiaries that guarantee the revolving credit facility.
Early payment date for accepted tenders is Sept 26, 2022; offer expires Oct 7, 2022 unless extended.

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