WASHINGTON (dpa-AFX) - Chesapeake Energy Corp. (CHK) said Thursday that it is commencing a public offering of $3.0 billion in aggregate principal amount of its senior notes, which the company expects will be issued in three separate series, one maturing in 2019, another maturing in 2022 and the last maturing in 2026.
The company said it plans to use the net proceeds from the offering to repay its existing unsecured term loan, redeem its 6.875% Senior Notes due 2018 and purchase the portion of its 9.500% Senior Notes due 2015 that are tendered in its concurrent tender offer for such notes. Any remaining portion of the net proceeds will be used for general corporate purposes, which may include the purchase, repayment and/or redemption of outstanding indebtedness.
Copyright RTT News/dpa-AFX