Consol Energy amends, restates credit facilities totaling $2.5 billion

By Angela McDaniels

Tacoma, Wash., April 13 - Consol Energy Inc. amended and restated its $1.5 billion senior secured credit agreement on Tuesday, according to a company news release.

Subsidiary CNX Gas Corp. also amended and restated its senior secured credit agreement. The new agreement provides for a $1 billion revolving credit facility, which is an increase from the $700 million facility previously in effect.

Both agreements provide for a syndicated five-year term.

For both facilities, PNC Bank, NA acted as administrative agent, Bank of America, NA acted as syndication agent and PNC Capital Markets LLC and Bank of America Merrill Lynch acted as joint lead arrangers.

Bank of Nova Scotia, Royal Bank of Scotland plc and Sovereign Bank acted as co-documentation agents for Consol Energy. Bank of Nova Scotia, RBS and Wells Fargo Bank, NA acted as co-documentation agents for CNX Gas.

Proceeds from both facilities will be used for general corporate purposes.

Consol is a diversified fuel producer based in Pittsburgh.

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