S&P Downgrades Chesapeake Energy (CHK) to 'CC'; Outlook is Negative
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Chesapeake Energy (CHK) Prices $1.5B Term Loan Facility
August 17, 2016 6:06 AM EDTChesapeake Energy Corporation (NYSE: CHK) announced that it successfully priced its proposed term loan and, as a result of strong demand, has upsized the term loan to $1.5 billion from a previously announced size of $1.0 billion. The term loan is being arranged by Goldman Sachs Bank USA, Citigroup... More
Moody'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
Chesapeake Energy (CHK) Enters $1B Term Loan Facility
August 15, 2016 6:02 AM EDTChesapeake Energy Corporation (NYSE: CHK) announced today that it has engaged Goldman Sachs Bank USA, Citigroup Global Markets Inc. and MUFG to assist with the arrangement of a secured five-year term loan in an aggregate principal amount of $1.0 billion. Chesapeake... More
Chesapeake Energy (CHK) Announces $500M Conv. Senior Notes Tender
August 15, 2016 6:02 AM EDTChesapeake Energy Corporation (NYSE: CHK) announced that it has commenced cash tender offers (collectively, the "Tender Offers," and each offer to purchase a series of notes individually, a "Tender Offer") to purchase up to $500,000,000 aggregate purchase price, exclusive of accrued interest (the "Aggregate Maximum Purchase Amount"), of the outstanding notes of Chesapeake set forth in the table below (collectively, the "Notes").
No more than $275,000,000 aggregate purchase price, exclusive of accrued interest (the "2038 Tender Cap"), of 2.25% Contingent Convertible Senior Notes due 2038 (the "2038 Notes") will be purchased in the Tender Offers. The terms and... More
