Chesapeake Energy (ticker: CHK, exchange: New York Stock Exchange (.N))
News Release -
18-May-2010
Chesapeake Energy Corporation Announces Redemption of $1.334 Billion
of Senior NotesOKLAHOMA CITY, May 18, 2010 (BUSINESS WIRE) --Chesapeake Energy Corporation (NYSE:CHK) today announced that it will
redeem for cash the entire principal amount of approximately $1.334
billion of outstanding senior notes as indicated in the table below:
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Note Issue:
|
|
CUSIP
|
|
Principal
Amount
|
|
Redemption
Date
|
|
Redemption
Price(1)
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|
7.50% Senior Notes due 2013
|
|
165167BC0
|
|
$363,823,000
|
|
June 21, 2010
|
|
$1,025.00
|
|
7.50% Senior Notes due 2014
|
|
165167BG1
|
|
$300,000,000
|
|
June 21, 2010
|
|
$1,025.00
|
|
6.875% Senior Notes due 2016
|
|
165167BE6
|
|
$670,437,000
|
|
June 21, 2010
|
|
$1,022.92
|
|
|
|
|
|
|
|
|
|
|
(1) Represents price to be paid per $1,000 principal amount. Final
redemption price will include accrued and unpaid interest through the
|
|
redemption date.
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A notice of redemption will be sent to all currently registered holders
of the notes by the trustee, The Bank of New York Mellon Trust Company,
N.A. Additional information relating to the procedure for redemption may
be obtained from The Bank of New York Mellon by calling 800-254-2826
(toll-free).
Payment of the redemption price will be made on or after June 21, 2010
upon presentation and surrender of the notes in book-entry form by
transferring the notes to the trustee's account at The Depository Trust
Company in accordance with its procedures or by mail or hand delivery to
The Bank of New York Mellon Trust Company, N.A., 111 Sanders Creek
Parkway, East Syracuse, New York 13057, Attention: Debt Processing
Group. Unless Chesapeake defaults in making the redemption payments,
interest on each series of senior notes listed above will cease to
accrue on and after the redemption date and the only remaining right of
the holders thereof is to receive the redemption payment upon surrender
to The Bank of New York Mellon Trust Company, N.A. of the senior notes.
Chesapeake Energy Corporation is one of the largest producers of
natural gas and the most active driller of new wells in the U.S.Headquartered
in Oklahoma City, the company's operations are focused on discovering
and developing unconventional natural gas and oil fields onshore in the
U.S. Chesapeake owns leading positions in the Barnett, Fayetteville,
Haynesville, Marcellus and Bossier natural gas shale plays and in the
Eagle Ford, Granite Wash and various other unconventional oil plays. The
company has also vertically integrated its operations and owns
substantial midstream, compression, drilling and oilfield service
assets. Further information is available at www.chk.com.
SOURCE: Chesapeake Energy Corporation
Chesapeake Energy Corporation
Investors:
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media:
Jim Gipson, 405-935-1310
jim.gipson@chk.com |
Chesapeake Energy
