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CNX Resources starts tender offer for $500M of senior notes

CNX Resources Corp. launched a tender offer to buy $500 million of 8% senior notes due 2023, to be paid for using proceeds from a private offering of another series of senior notes.

The tender offer is scheduled to expire on March 21 at 5 p.m. ET, and is conditioned on the completion of the private offering of senior notes due 2026, according to a March 15 news release.

The rest of the proceeds, if any, would be used to redeem any of the senior notes due 2023 that remain outstanding after the tender offer is completed.

Credit Suisse Securities (USA) LLC is serving as the dealer manager for the tender offer.

CNX Resources is an oil and gas company with exploration, production and midstream operations in the Appalachian Basin.