Chesapeake Energy launches offer of $1.6 billion in senior notes
By APMonday, August 9, 2010
Chesapeake Energy launches offer of $1.6B in notes
OKLAHOMA CITY — Chesapeake Energy Corp. is launching a public offering $1.6 billion in notes — $600 million in senior notes due 2018 and $1 billion of senior notes due 2020, the company said Monday.
The natural gas producer intends to use the net proceeds for the purchase or redemption of notes with quicker maturity dates — $300 million of 7 percent senior notes due 2014, $600 million in 6.625 percent senior notes due 2016 and $600 million in 6.25 percent senior notes due 2018.
Credit Suisse Securities LLC will act as lead book running manager for the notes offering. Bank of America Securities LLC, Barclays Capital, Inc., Morgan Stanley and Wells Fargo Securities, LLC will be joint book-running managers.
