CNX Launches $500M 6% Notes Tender Offer at $1,016.10 and Plans $500M 2034 Debt
CNX launched a tender offer to repurchase $500 million of its 6.000% senior notes due 2029 at $1,016.10 per $1,000 plus accrued interest, with settlement on February 26 and redemption of notes at 101.50% on March 19. It plans a $500 million private placement of senior notes due 2034 to fund the tender offer.
1. Tender Offer Details
CNX has commenced a cash tender offer to purchase up to $500 million of its outstanding 6.000% senior notes due 2029. Holders will receive $1,016.10 per $1,000 principal amount plus accrued and unpaid interest, with settlement expected on February 26, 2026.
2. Conditional Redemption
Concurrent with the tender offer, CNX issued a conditional notice to redeem any notes not purchased at 101.50% of principal plus accrued interest on March 19, 2026. Both the tender offer and redemption are contingent on completing a new notes offering on satisfactory terms.
3. Private Offering of 2034 Notes
CNX intends to privately offer and sell $500 million of senior notes due 2034, guaranteed by its restricted subsidiaries. Net proceeds will fund the tender offer and potential redemption, with any shortfall drawn from its revolving credit facility.