CNX Resources announces $400M senior notes offering due 2032, launches tender for $350M 7.250% notes due 2027

CNX Resources Corp

CNX intends private placement of $400M senior notes due 2032; proceeds to refinance 7.250% 2027 notes and repay revolver.
Concurrent cash tender offer for any and all $350M outstanding 7.250% senior notes due 2027; conditional redemption of untendered notes.
Tender offer expires Feb 16, 2024; purchase price based on fixed spread + UST reference yield; redemption at 101.813%.
New notes offering closing is condition for tender and redemption; no minimum tender condition.
Net proceeds used to purchase 2027 notes, fund redemption, repay revolver borrowings, and general corporate purposes.

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