PITTSBURGH, Sept. 8, 2020 /PRNewswire/ -- CNX Resources
Corporation (NYSE: CNX) ("CNX") today announced that it has issued
a conditional notice (the "Redemption Notice") to holders of its
outstanding 5.875% Senior Notes due 2022 (the "2022 Notes") of
CNX's intent to redeem all of its outstanding 2022 Notes on or
around October 8, 2020 (the
"Redemption Date"). The redemption is conditioned upon the
consummation by CNX of an issuance of $200.0
million aggregate principal amount (or such other amount as
determined by CNX in its sole discretion) of its 7.250% Senior
Notes due 2027. This announcement does not form part of the
Redemption Notice or otherwise constitute a notice of redemption
with respect to the 2022 Notes.
The redemption price for the 2022 Notes is 100.000% of the
principal amount thereof, plus accrued and unpaid interest to, but
not including, the Redemption Date. Following the redemption, CNX
will not have any senior note maturities prior to 2026.
Additional information concerning the terms and conditions of
the redemption are fully described in the Redemption Notice
distributed to the holders of the 2022 Notes. Beneficial holders
with any questions about the redemption should contact their
respective brokerage firm or financial institution.
About CNX Resources Corporation
CNX Resources Corporation (NYSE: CNX) is one of the largest
independent natural gas exploration, development and production
companies, with operations centered in the major shale formations
of the Appalachian basin. The company deploys an organic growth
strategy focused on responsibly developing its resource base. As of
December 31, 2019, CNX had 8.4
trillion cubic feet equivalent of proved natural gas reserves. The
company is a member of the Standard & Poor's Midcap 400
Index.
Cautionary Statements:
Various statements in this release, including those that express
a belief, expectation or intention, may be considered
forward-looking statements (as defined in Section 21E of the
Securities Exchange Act of 1934, as amended) that involve risks and
uncertainties that could cause actual results to differ materially
from projected results. Accordingly, investors should not
place undue reliance on forward-looking statements as a prediction
of actual results. The forward-looking statements may include
projections and estimates concerning the timing and success of
specific projects and our future production, revenues, income and
capital spending. When we use the words "believe," "intend,"
"expect," "may," "should," "anticipate," "could," "estimate,"
"plan," "predict," "project," or their negatives, or other similar
expressions, the statements which include those words are usually
forward-looking statements. When we describe strategy that involves
risks or uncertainties, we are making forward-looking
statements. The forward-looking statements in this press
release, if any, speak only as of the date of this press release;
we disclaim any obligation to update these statements. We have
based these forward-looking statements on our current expectations
and assumptions about future events. While our management considers
these expectations and assumptions to be reasonable, they are
inherently subject to significant business, economic, competitive,
regulatory and other risks, contingencies and uncertainties, most
of which are difficult to predict and many of which are beyond our
control. These risks, contingencies and uncertainties relate to,
among other matters, the risks and uncertainties set forth in the
"Risk Factors" section of CNX's Annual Report on Form 10-K for the
year ended December 31, 2019 and
Quarterly Reports on Form 10-Q for the three months ended
March 31, 2020 and June 30, 2020, in each case, as filed with the
Securities and Exchange Commission, and any subsequent reports
filed with the Securities and Exchange Commission.|
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SOURCE CNX Resources Corporation