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CONSOL Energy to provide partnership up to $275M revolving credit facility

CONSOL Energy Inc., formerly known as CONSOL Mining Corp., agreed to provide an aggregate principal amount of up to $275 million revolving credit facility to CONSOL Coal Resources LP, formerly known as CNX Coal Resources LP.

The partnership made an initial draw of $201 million, the net proceeds of which were used to repay the old revolver, provide working capital for the partnership following its separation and for other general corporate purposes, according to a Form 8-K filed Dec. 4.

The credit agreement matures Feb. 27, 2023.

Concurrently, CONSOL Energy appointed Kurt Salvatori and Deborah Lackovic as board members of the partnership's general partner to fill the vacancies created by the resignations of Nicholas DeIuliis and Stephen Johnson, effective Nov. 29.