Le Lézard
Classified in: Oil industry

CNX Announces Upsized Credit Facility



PITTSBURGH, March 8, 2018 /PRNewswire/ -- CNX Resources Corporation (NYSE: CNX) ("CNX" or the "Company") today announced that it has amended and restated its senior secured revolving credit facility (the "Credit Facility").  The Credit Facility increases lenders' commitments to $2.1 billion, with an accordion feature allowing the Company to increase the commitments to $3.0 billion, and establishes an initial borrowing base of $2.5 billion.  Outstanding borrowings under the Credit Facility bear interest, at the Company's option, at either the base rate plus a margin ranging from 0.50% to 1.50% or LIBOR plus a margin ranging from 1.50% to 2.50%. 

The Credit Facility matures on March 8, 2023, subject to a springing maturity date in the event the aggregate principal amount outstanding on the Company's existing senior notes or certain other publicly traded debt securities exceeds $500 million

PNC Capital Markets LLC, JPMorgan Chase Bank, N.A., Credit Suisse Securities (USA) LLC and MUFG Union Bank, N.A. acted as the joint lead arrangers and joint bookrunners for the Credit Facility.  PNC Bank, National Association will serve as administrative agent and collateral agent, and JPMorgan Chase Bank, N.A. will serve as syndication agent.

About CNX Resources

CNX Resources Corporation 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. CNX deploys an organic growth strategy focused on responsibly developing its resource base. As of December 31, 2017, CNX had 7.6 trillion cubic feet equivalent of proved natural gas reserves. CNX is a member of the Standard & Poor's Midcap 400 Index. Additional information may be found at www.cnx.com.

 

CNX Resources Corporation logo (PRNewsfoto/CNX Resources Corporation,CNX...)

SOURCE CNX Resources Corporation


These press releases may also interest you

at 13:28
Leading solar tracking manufacturer, Array Technologies, introduced Jim Fusaro as the company's new CEO at Intersolar Europe Tuesday. He will be succeeding company founder, Ron Corio. Fusaro is a senior executive with more than 30 years of...

at 13:01
Royal Dutch Shell plc  (the "Company") has been notified that following the payment of the interim dividend on June 18, 2018 in respect of the first quarter of 2018, the following Persons Discharging Managerial Responsibilities ("PDMRs") acquired...

at 12:05
Green Power EMC, the renewable energy supplier for 38 Georgia Electric Membership Corporations (EMCs), and Nashville-based solar energy provider Silicon Ranch Corporation today announced an agreement to significantly expand their solar energy...

at 11:08
Picarro, the leading provider of intelligent leak detection software solutions, and Southern Cross, a leading provider of field services to utilities for over 70 years, are partnering to combine decades of industry field knowledge and the most...

at 10:35
Duke Energy has selected four properties in North Carolina and South Carolina for participation in the first half of its 2018 Site Readiness Program to enhance the readiness of the sites for business and industrial development....

at 10:21
Michael Baker International, a global leader in engineering, planning and consulting services, announced that Danielle Smith, P.E., Associate Vice President and Transportation Operations Manager of the firm's Denver office, has been elected to the...




News published on 8 march 2018 at 13:10 and distributed by: