CNX Resources Corporation, a leading natural gas company, has announced a private offering of $500 million in senior notes due 2034. This offering is part of the company's strategy to address its financial obligations. In addition to the offering, CNX Resources Corporation has also commenced a tender offer to purchase any and all of its 6.000% senior notes due 2029. Concurrent with the offering and the tender offer, the company issued a conditional notice to redeem all 2029 notes not purchased in the tender offer.
The net proceeds from the sale of the notes will be used to fund the obligations under the tender offer and, if necessary, to fund the redemption of any 2029 notes that remain outstanding after the tender offer. The company has indicated that it may draw on its revolving credit facility to provide additional funds if the net proceeds from the sale of the notes are insufficient to cover these obligations. Until the remaining net proceeds are used to fund the redemption, CNX Resources Corporation will reduce the amounts outstanding under its revolving credit facility.
As of December 31, 2025, CNX Resources Corporation had 9.7 trillion cubic feet equivalent of proved natural gas reserves, showcasing the company's significant asset base in the energy sector.
The press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, and it emphasizes that the offering of notes may be made only by means of an offering memorandum. Additionally, the press release clarifies that it does not constitute an offer to purchase or the solicitation of an offer to sell any 2029 notes in the tender offer, nor does it constitute a notice of redemption under the indenture governing the 2029 notes.
The announcement reflects the company's strategic approach to addressing its financial obligations and optimizing its capital structure. Today the company's shares have moved 0.47% to a price of $36.07. For the full picture, make sure to review CNX Resources Corp's 8-K report.
