Latham & Watkins Advises CNX Resources Corporation in US$200 Million Senior Notes Offering

CNX Resources Corporation (NYSE: CNX) (CNX) announced the pricing of US$200.0 million aggregate principal amount of its 7.250% senior notes due 2032 at a price of 100.500% of par, plus accrued interest from September 1, 2024, with an effective yield of 7.104%. The notes are being offered as additional notes under an indenture, dated February 23, 2014, pursuant to which CNX previously issued US$400.0 million aggregate principal amount of 7.250% senior notes due 2032. The sale of the notes to the initial purchasers is expected to settle on January 21, 2025, subject to the satisfaction of customary closing conditions.

CNX intends to use the net proceeds of the sale of the notes for general corporate purposes, including funding a portion of the transaction costs associated with its pending acquisition of all of the issued and outstanding membership interests in Apex Energy (PA), LLC, Apex Energy Minerals, LLC, and Apex WML Midstream, LLC (the Transaction) and, prior to the closing of the Transaction, paying down borrowings under its senior secured revolving credit facility.

Latham & Watkins LLP represents CNX in the offering with a corporate team led by Austin partner David Miller and Houston partner Monica White, with associates Paul Robe and Armaan Bhimani. Advice was also provided on tax matters by Houston partners Bryant Lee and Jim Cole, with associate Dominick Constantino; and on environmental matters by Los Angeles/Houston partner Joshua Marnitz, with associate Brandon Kerns.