trending Market Intelligence /marketintelligence/en/news-insights/trending/6bpkcwwqi_7ztvkwlmyp5g2 content esgSubNav
In This List

CNX Midstream prices $400M notes offering to fund Marcellus acquisition

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


CNX Midstream prices $400M notes offering to fund Marcellus acquisition

CNX Midstream Partners LP priced its offering for $400 million of its 6.500% senior notes due 2026 at 100% of their face value, according to a March 9 news release.

Proceeds from the offering, expected to close March 16, will be used to fund the acquisition of 95% interest in the Shirley-Pennsboro gathering system from CNX Resources Corp., repay revolver debt and for general partnership purposes. Should the Shirley-Pennsboro transaction fail to reach completion on or before June 1, the notes will be subject to a special mandatory redemption at 100% of the issue price thereof.

CNX Midstream Finance Corp. will serve as co-issuer for the notes.

CNX Midstream Partners is a master limited partnership that owns, operates, develops and acquires gathering and other midstream energy assets to service natural gas production in the Appalachian Basin in Pennsylvania and West Virginia.