CNX Resources Closes $500M Senior Notes Offering

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CNX Resources Corporation, a natural gas development and production company, announced the closing of a $500 million private placement of 5.875% senior notes due 2034. The company plans to use the net proceeds to purchase any and all of its outstanding 6.000% senior notes due 2029 through a tender offer, and to redeem any remaining 2029 notes.

Why it matters

This transaction allows CNX to refinance its existing 2029 notes at a lower interest rate, reducing its debt service costs and improving its overall financial position. The move is part of the company's strategy to responsibly develop its natural gas assets in the Appalachian region.

The details

The $500 million in senior notes are guaranteed by all of CNX's restricted subsidiaries that also guarantee its revolving credit facility. If the net proceeds from the notes offering are not sufficient to fund the tender offer and redemption of the 2029 notes, CNX plans to draw on its revolving credit facility to cover the remaining amount.

• The notes offering and tender offer were announced and closed on February 26, 2026.

What’s next

CNX plans to use the remaining net proceeds from the notes offering, after the tender offer and redemption of the 2029 notes, to reduce amounts outstanding under its revolving credit facility.