CNX Resources buys 84.04% of 6.000% 2029 notes

Holders get $1,016.10 per $1,000 plus interest, with Feb. 26 settlement and conditional March 19 redemption.

Published on Feb. 24, 2026

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CNX Resources Corporation announced the final results and expiration of its previously announced cash tender offer to purchase any and all of the $500 million aggregate principal amount outstanding of its 6.000% Senior Notes due 2029. As of the expiration time, CNX had received tenders for an aggregate principal amount of $420,200,000 of the outstanding 2029 Notes, or 84.04% of the aggregate principal amount of 2029 Notes outstanding.

Why it matters

The successful tender offer allows CNX to retire a significant portion of its 2029 notes, potentially reducing its debt burden and interest expenses. The conditional redemption of the remaining notes suggests CNX is looking to refinance this debt, likely at more favorable terms.

The details

CNX will pay the purchase price of $1,016.10 for each $1,000 principal amount of the 2029 Notes validly tendered and accepted for purchase, plus accrued and unpaid interest. Concurrently, CNX issued a conditional notice to redeem all 2029 Notes not purchased in the tender offer at a redemption price of 101.50% of the principal amount, plus accrued and unpaid interest.

  • The tender offer expired on February 23, 2026 at 5:00 p.m. New York City time.
  • The settlement date for the tender offer is February 26, 2026.
  • The conditional redemption date for the remaining 2029 Notes is March 19, 2026.

The players

CNX Resources Corporation

A premier, ultra-low carbon intensive natural gas development, production, midstream, and technology company centered in Appalachia.

Wells Fargo Securities, LLC

The Dealer Manager for the tender offer.

Global Bondholder Services Corporation

The tender agent and information agent for the tender offer.

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What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This tender offer and potential refinancing of CNX's 2029 notes suggests the company is proactively managing its debt and capital structure to improve its financial position and reduce interest expenses.