WASHINGTON (dpa-AFX) - CONSOL Energy Inc. (CNX) said Thursday that it has priced $1.6 billion of its 5.875% senior notes due 2022 at par.
The offering is expected to close on April 16.
The company plans to use the net proceeds of the sale of the Notes to purchase all $1.5 billion in its outstanding 8.00% senior notes due 2017 pursuant to a tender offer and consent solicitation which commenced on April 2, 2014. If any of the 2017 Notes are not purchased in the tender offer, CONSOL plans to use a portion of the net proceeds from the offering to refinance the redemption of the 2017 Notes. The company plans to use any remaining proceeds to repay other outstanding senior indebtedness.
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