CNX Gas gets new $700 million four-year revolving credit facility

By Sara Rosenberg

New York, May 10 - CNX Gas Corp. closed on a new $700 million four-year senior secured revolving credit facility, according to a news release.

PNC and Bank of America acted as the joint lead arrangers and bookrunners on the deal, with PNC the administrative agent and Bank of America the syndication agent. The Bank of Nova Scotia, the Royal Bank of Scotland and Wells Fargo acted as the co-documentation agents.

The facility, which was effective on May 7, was used to replace an existing $200 million facility and will also be used for general corporate purposes.

CNX is a Canonsburg, Pa.-based explorer, developer, producer and gatherer of natural gas.

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