CNX Resources Corporation (NYSE: CNX) announced the pricing of $500 million of its 6.00% senior notes due 2029. The offering is expected to close on November 30, 2020, subject to the satisfaction of customary closing conditions. The Notes will be guaranteed by all of CNX's wholly-owned domestic restricted subsidiaries that guarantee its revolving credit facility.

CNX intends to use the net proceeds of the sale of the Notes for general corporate purposes, including to repay existing indebtedness under CNX's revolving credit facility.

Upon the closing of the offering and the use of proceeds therefrom, CNX anticipates having no maturities of indebtedness through 2025 other than CNX's credit facility, under which less than $186 million (or approximately 10% of the upstream borrowing capacity) will be drawn, and CNX Midstream Partners LP's credit facility (which CNX does not guarantee). CNX continues to anticipate using future free cash flow to repay indebtedness to target a leverage ratio of 1.5 to 1.0 and for share repurchases.

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.