CONSOL Energy to begin private offering of $650M of senior notes

CONSOL Energy Inc. (NYSE: CNX) intends to offer and sell to eligible purchasers $650 million of senior notes due 2023. 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% senior notes due 2020 and the $250 million in its outstanding 6.375% senior notes due 2021 pursuant to the tender offers and consent solicitations that began on March 9. 

CONSOL intends to use any remaining proceeds from the offering, together with borrowings under its revolving credit facility, to redeem any remaining 2020 notes.

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