CNX Resources prices $400M of 7.250% senior notes due 2032; proceeds to refinance 2027 notes

CNX Resources Corp

Priced $400M aggregate principal of 7.250% senior notes due 2032 at 100% of face value.
Offering expected to close February 23, 2024, subject to customary conditions.
Net proceeds to purchase any and all outstanding 7.250% senior notes due 2027 via tender offer and redemption.
Remaining proceeds to repay borrowings under revolving credit facility; general corporate purposes.
Notes guaranteed by all restricted subsidiaries that guarantee the revolving credit facility.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

CNX Resources Corp entered into Purchase Agreement with J.P. Morgan Securities LLC as the representative of the initial purchasers valued at $400,000,000 aggregate principal amount of 7.250% senior notes due 2032 (effective 2024-02-12).

Action: entry
Agreement: notes offering
Counterparty: J.P. Morgan Securities LLC as the representative of the initial purchasers
Value: $400,000,000 aggregate principal amount of 7.250% senior notes due 2032
Effective: 2024-02-12

Exact text from the filing

On February 12, 2024, CNX Resources Corporation (the “Company”) and certain subsidiaries of the Company entered into a purchase agreement (the “Purchase Agreement”) with J.P. Morgan Securities LLC as the representative of the initial purchasers (the “Initial Purchasers”), with respect to a private offering (the “Notes Offering”) by the Company of $400,000,000 aggregate principal amount of 7.250% senior notes due 2032 (the “Notes”), along with the related guarantees of the Notes.

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Source: SEC EDGAR

accession 0001193125-24-036417

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