CNX Resources Issues $400M in Senior Notes with Covenants

CNX Resources (CNX) has released an update.

CNX Resources Corporation successfully completed a private offering of $400 million in senior notes due 2032, carrying an interest rate of 7.250%. These notes, maturing on March 1, 2032, will pay interest semi-annually and are on par with the company’s other senior debts, holding precedence over any future subordinated debts. The company has the option to redeem these notes starting in 2027 at decreasing premiums and includes certain covenants restricting financial maneuvers unless they achieve a higher credit rating, with provisions for repurchase in the event of a change in control.

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