Chesapeake Energy Corp., the natural gas giant laden with nearly $10 billion in debt, said Dec. 4 it is working with a group of bankers for a loan of up to $1.5 billion.

The lenders arranging the secured first lien, last out 4.5-year term loan facility are JPMorgan Chase Bank, Morgan Stanley Bank, Bank of America and MUFG Bank, the Oklahoma City-based company said Dec. 4. Among other customary conditions, the loan is subject to receipt of commitments from lenders as well as negotiation and execution of definitive loan documents.

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