CONSOL Announces Private Offering of $650 Million of Senior Notes

- March 24th, 2015

CONSOL Energy Inc. (NYSE:CNX) announced Tuesday that it intends to offer and sell $650 million of senior notes to eligible purchasers due 2023.

CONSOL Energy Inc. (NYSE:CNX) announced Tuesday that it intends to offer and sell $650 million of senior notes to eligible purchasers due 2023.

As quoted in the press release:

The Notes will be guaranteed by substantially all of CONSOL’s wholly-owned domestic restricted subsidiaries. CONSOL intends to use the net proceeds of the sale of the Notes, together with borrowings under its revolving credit facility to the extent necessary, to purchase all of the approximately $1.02 billion in its outstanding 8.25 percent senior notes due 2020 and the $250 million in its outstanding 6.375 percent senior notes due 2021 pursuant to the tender offers and consent solicitations that commenced on March 9, 2015.  CONSOL intends to use any remaining proceeds from the offering, together with borrowings under its revolving credit facility, to redeem any remaining 2020 Notes.

Click here to read the full CONSOL Energy Inc. (NYSE:CNX) press release.

Tags

Leave a Reply