CONSOL Energy Refinances Industrial Development Bonds

September 28, 2010

PITTSBURGH, Sept. 28 /PRNewswire-FirstCall/ — CONSOL Energy Inc. (NYSE: CNX) has refinanced $102.865 million of industrial development bonds associated with its 100%-owned CNX Marine Terminal in the Port of Baltimore, Maryland. The municipal bonds are due on September 1, 2025 and carry an interest rate of 5.75%.

“We are very pleased to have refinanced this debt in a year when our terminal is expected to post record shipments of coal,” commented William J. Lyons, chief financial officer. “We are also pleased to have negotiated an interest rate much lower than the current 6.5%.”

CONSOL Energy Inc., the leading diversified fuel producer in the Appalachian Basin, is a member of the Standard & Poor’s 500 Equity Index and the Fortune 500. It has 11 bituminous coal mining complexes in six states and reports proven and probable coal reserves of 4.5 billion tons. It is also the leading Appalachian gas producer, with proved reserves of over 2.9 trillion cubic feet. Additional information about CONSOL Energy can be found at its web site: www.consolenergy.com.


Source: newswire

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