Consol announces pricing of $1.6B of senior notes

CONSOL Energy has announced the pricing of $US1.6 billion ($A1.7 billion) of its 5.875% senior notes due 2022.

Lou Caruana

Consol intends to use the net proceeds of the sale of the notes to purchase all $1.5 billion in its outstanding 8% senior notes due 2017.

It intends to use any remaining proceeds to repay other outstanding senior indebtedness.

Consol, a Pittsburgh-based producer of natural gas and coal, is one of the largest independent natural gas exploration, development and production companies, with operations centred in the major shale formations of the Appalachian Basin.