Chesapeake Energy Corp. (NYSE: CHK) offered $3 billion, in aggregate principal amount, of senior notes due 2019, 2022 and 2026, the company said April 10.
Net proceeds will repay an unsecured term loan, redeem 6.875% notes due 2018 and buy back the 9.5% notes due 2015 that are part of a concurrent tender offer, the company said.
In a separate press release, the company detailed the tender offer, which is scheduled to close April 23, Chesapeake said April 10. In its first press release, the company noted that any unused proceeds from the tender offer will go toward corporate purposes that may include paying debts.
The tender offer’s dealer managers are Morgan Stanley & Co. LLC and Citigroup Global Markets Inc., Chesapeake said in its second press release. The tender agent and information agent is D.F. King & Co., the company added.
For the notes due 2019, Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. are joint book-running managers, Chesapeake said in its first press release.
Chesapeake added that Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Credit Agricole Securities (USA) Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Mitsubishi UFJ Securities (USA) Inc. are joint book-running managers for the notes due 2022 and 2026.
Oklahoma City-based Chesapeake Energy Corp. produces domestic natural gas and oil.
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