CNX Resources to price $400 million 8.2-year notes on Tuesday

By Paul A. Harris

Portland, Ore., Nov. 24 – CNX Resources Corp. plans to price a $400 million offering of senior notes due Jan. 15, 2029 in a Tuesday drive-by trailing a mid-morning conference call with investors, according to a syndicate source.

BofA Securities Inc. has the books for the Rule 144A for life offering.

The notes, which have a tenor of 8.2 years, will become callable after Jan. 15, 2024 at par plus 75% of the coupon. The also feature a 35% equity clawback at par plus the coupon during the non-call period and a 101% poison put.

The Canonsburg, Pa.-based independent oil and gas producer plans to use the proceeds for general corporate purpose.

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