CONSOL Energy will raise about $250 million in a sale of senior notes. The bonds, which carry a coupon rate 6.37%, will mature on March 1, 2021. The joint book- running managers for the sale are Bank of America Merrill Lynch, PNC Capital, RBS and Scotia, adds Reuters. The Pennsylvania-based energy company will use the proceeds from the offering to repay its outstanding 7.875% senior secured notes due March 1, 2012, to reduce outstanding indebtedness under the company’s short term credit facilities and for general corporate purposes.
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