secwatch.observer — SEC 8-K summary
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Issuer:     CNX Resources Corp (CNX)
CIK:        0001070412
Form:       8-K
Filed at:   2024-05-17T23:59:59+00:00
Accession:  0001193125-24-141817
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CNX Resources enters new $1.4B credit facility with $2.25B borrowing base, maturity extended to 2029
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- New $1.4B senior secured revolver replaces $1.35B facility; borrowing base unchanged at $2.25B; maturity extended from Oct 2026 to May 2029.
- CNX Midstream (wholly owned) also entered new $600M facility with same May 2029 maturity, replacing existing 2026 facility.
- CNX covenants: max net leverage 3.50x, min current ratio 1.00x; CNX Midstream: max net leverage 5.00-5.25x, max secured leverage 3.25x, min interest coverage 2.50x.
- Facility includes springing maturity if outstanding convertible notes or 2029 senior notes exceed 80% of availability.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070412/000119312524141817/0001193125-24-141817-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070412/000119312524141817/d773002d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-141817

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