CNX Resources Corporation Concludes Tender Offer for Senior Notes Due in 2029
On February 23, 2026, CNX Resources Corporation, trading on the NYSE under the symbol CNX, released the final results of its cash tender offer aimed at acquiring any outstanding 6.000% Senior Notes due in 2029. The company revealed that as of the expiration time, it received tenders for a significant total of $420,200,000 of the $500 million aggregate principal amount of the notes. This impressive figure represents approximately 84.04% of the total outstanding notes, excluding those that might be submitted through guaranteed delivery procedures.
The tender offer, initiated under specific terms outlined in the Offer to Purchase dated February 17, 2026, has generated considerable interest among investors. According to CNX, the purchase price for validly tendered 2029 Notes will be at $1,016.10 for every $1,000 principal amount, complemented by accrued interest leading up to the settlement date of February 26, 2026.
Investors should bear in mind that the purchase price represents a value addition in current financial markets. Following the completion of this purchase, all 2029 Notes acquired will subsequently be retired, significantly affecting the future capital structure of the company.
In a strategic move, CNX also issued a conditional notice to redeem any remaining 2029 Notes not included in the tender offer. The redemption price is set at 101.50% of the principal amount, plus any accrued and unpaid interest, effective from March 19, 2026. However, this redemption is dependent on the successful closure of a concurrent offering of new senior notes, a detail investors must keep in mind as it introduces an element of uncertainty.
CNX has appointed Wells Fargo Securities, LLC to manage the tender process, while Global Bondholder Services Corporation facilitates the tender and serves as the information agent. The company’s unique positioning as an ultra-low carbon intensive natural gas development and production firm in Appalachia complements its strategic capital management and innovation competencies, ensuring a responsible approach to resource development and a long-term value proposition for its stakeholders.
As of the end of 2025, CNX Resources holds an extensive portfolio of proved natural gas reserves, numbering approximately 9.7 trillion cubic feet equivalent. This underscores CNX’s commitment to capital efficiency and a sustainable approach to energy production within one of the most resource-abundant regions in the United States.
The report from CNX contains forward-looking statements, defining the company’s optimistic outlook concerning future projects and capital expenditure plans, though investors should approach these projections with necessary caution as they are inherently subject to various risks and uncertainties. For those monitoring the developments around CNX Resources, particularly the outcomes of its tender offer and future strategies, these details provide essential insight into the company’s trajectory in the competitive energy sector.
The tender offer, initiated under specific terms outlined in the Offer to Purchase dated February 17, 2026, has generated considerable interest among investors. According to CNX, the purchase price for validly tendered 2029 Notes will be at $1,016.10 for every $1,000 principal amount, complemented by accrued interest leading up to the settlement date of February 26, 2026.
Investors should bear in mind that the purchase price represents a value addition in current financial markets. Following the completion of this purchase, all 2029 Notes acquired will subsequently be retired, significantly affecting the future capital structure of the company.
In a strategic move, CNX also issued a conditional notice to redeem any remaining 2029 Notes not included in the tender offer. The redemption price is set at 101.50% of the principal amount, plus any accrued and unpaid interest, effective from March 19, 2026. However, this redemption is dependent on the successful closure of a concurrent offering of new senior notes, a detail investors must keep in mind as it introduces an element of uncertainty.
CNX has appointed Wells Fargo Securities, LLC to manage the tender process, while Global Bondholder Services Corporation facilitates the tender and serves as the information agent. The company’s unique positioning as an ultra-low carbon intensive natural gas development and production firm in Appalachia complements its strategic capital management and innovation competencies, ensuring a responsible approach to resource development and a long-term value proposition for its stakeholders.
As of the end of 2025, CNX Resources holds an extensive portfolio of proved natural gas reserves, numbering approximately 9.7 trillion cubic feet equivalent. This underscores CNX’s commitment to capital efficiency and a sustainable approach to energy production within one of the most resource-abundant regions in the United States.
The report from CNX contains forward-looking statements, defining the company’s optimistic outlook concerning future projects and capital expenditure plans, though investors should approach these projections with necessary caution as they are inherently subject to various risks and uncertainties. For those monitoring the developments around CNX Resources, particularly the outcomes of its tender offer and future strategies, these details provide essential insight into the company’s trajectory in the competitive energy sector.
Topics Financial Services & Investing）
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