WASHINGTON (dpa-AFX) - CONSOL Energy Inc. (CNX) said Monday that it plans to offer and sell to eligible purchasers $1.6 billion of senior notes due 2022.
CONSOL said it 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, the company plans to use a portion of the net proceeds from the offering to refinance the redemption of the 2017 Notes. CONSOL intends to use any remaining proceeds to repay other outstanding senior indebtedness.
Separatly, CONSOL Energy raised its annual coal production guidance range from 30.1 - 32.1 million tons to 31 - 33 million tons.
Copyright RTT News/dpa-AFX
© 2014 AFX News
