Consol Energy repurchases $43 million of second-lien debt

By Sarah Lizee

Olympia, Wash., April 8 – Consol Energy Inc. repurchased in the open market about $43 million of its second-lien debt that continued to trade at a significant discount to its par value, according to a press release.

These repurchases provide a high rate of return and are credit accretive, Consol said.

In aggregate, when coupled with its term loan A, term loan B and finance lease repayments during the first quarter, Consol retired more than $50 million in principal with no material change in liquidity from year-end 2019.

Consol is a Canonsburg, Pa.-based producer and exporter of high-Btu bituminous thermal and crossover metallurgical coal.

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