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CONSOL Energy Inc. intends, subject to market and other conditions, to offer and sell to eligible purchasers $1.6 billion of senior notes due 2022.
The Notes will be guaranteed by substantially all of CONSOL's wholly-owned domestic restricted subsidiaries. CONSOL intends 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, CONSOL intends 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.