CONSOL Energy Announces Private Offering Of $650 Mln Of Senior Notes Due 2023

(RTTNews) - CONSOL Energy Inc. (CNX) announced its intention 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 said it 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 about $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 commenced on March 9, 2015.

The company said it intends to use any remaining proceeds from the offering, together with borrowings under its revolving credit facility, to redeem any remaining 2020 Notes.