Chesapeake Energy Corporation Announces Cash Tender Offers for up to $500 million Aggregate Purchase Price of Non-Convertible Senior Notes
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 9/22/2026
- Nasdaq notches record-high close, AI optimism reignites and Treasury yields retreat
- Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
- Oil price dips to $100 on hopes of US-Iran diplomacy, partial recovery in Saudi exports
- Paramount, Warner Bros jump on report of settlement progress in merger fight
- Investors may be underpricing how far rate hikes could go, Deutsche says
- Pennsylvania measles cases near 800 as outbreak grows
- A timeline of Trump administration moves to weaken endangered species protections
- Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
- Nasdaq notches record-high close, AI optimism reignites and Treasury yields retreat
- SpaceX and Tesla’s AI linkup is getting deeper. Here’s what Morgan Stanley sees
S&P Downgrades Chesapeake Energy (CHK) to 'CC'; Outlook is Negative
August 15, 2016 3:07 PM EDTHighlights -
U.S.-based Chesapeake Energy Corp. has announced two tender offerings totaling $1 billion for its senior unsecured and convertible notes.Although near-term maturities are tendered at or close to par, the longer-dated maturities, in particular, the 6.625% and 6.875% notes due 2020 and 5.75% 2023 senior notes, are at a material discount to par, which we view as a distressed transaction and selective default if those notes are included in the tender as we assume.As a result, we are lowering the corporate credit rating to 'CC' from 'CCC'.Chesapeake is marketing a $1 billion first-lien... MoreMoody's Affirms Chesapeake Energy's (CHK) CFR at 'Caa3'; Lifts Outlook on Speculative Grade Liquidity Rating to Positive
August 15, 2016 2:29 PM EDTMoody's Investors Service (Moody's) assigned a Caa1 rating to Chesapeake Energy Corporation's (Chesapeake) (NYSE: CHK) proposed $1 billion first lien last out term loan. Moody's downgraded Chesapeake's existing second lien secured notes rating to Caa2 from Caa1 and affirmed its Caa2 Corporate Family Rating (CFR) and Caa3 senior unsecured notes rating. The Speculative Grade Liquidity Rating was raised to SGL-3 from SGL-4 and the rating outlook was changed to positive from negative. Proceeds from the term loan will be used to retire senior unsecured and convertible notes pursuant to two simultaneously announced tender... More
