September 17, 2021
CNX Midstream Partners LP, a wholly-owned subsidiary of CNX Resources Corporation, has announced the pricing of US$400 million aggregate principal amount of 4.750% senior notes due 2030 at par in a private offering. The offering is expected to close on September 22, 2021. CNX Midstream intends to use the net proceeds of the offering, together with cash on hand and borrowings under its revolving credit facility, to purchase any and all of the approximately US$400 million aggregate principal amount outstanding of its 6.500% senior notes due 2026 pursuant to a tender offer that commenced concurrently with Notes offering and to redeem any 2026 Notes that remain outstanding after consummation of the Tender Offer.
Latham & Watkins LLP represents CNX Midstream Partners in the senior notes offering and concurrent tender offer with a corporate deal team led by Austin partner David Miller, with Houston associates Kate Wang, Jessica Sherman, Anthony Tan, and Nathaniel Bass. Advice was also provided on finance matters by Houston partner Craig Kornreich and Houston counsel Bryce Kaufman; on tax matters by Houston partners Bryant Lee and Jim Cole, with Houston associate Marianne Standley; and on environmental matters by Houston partner Joel Mack and Los Angeles/Washington, D.C. counsel Joshua Marnitz.