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Chesapeake Energy says it has cash to cover debts through 2018
Oct 5 2016, 17:40 ET | About: Chesapeake Energy Corporation (CHK) | By: Carl Surran, SA News Editor
Chesapeake Energy (NYSE:CHK) says it has amassed more than enough cashto pay bondholders through the end of 2018.
CHK says it has closed its $1.25B private placement of unsecured convertible notes that it can convert to shares in 2019 under certain circumstances, and now has $1B in cash on hand in addition to an undrawn revolving credit line.
“With the cash proceeds from the convertible note offering, we have taken measures to provide excess liquidity to address the remaining maturities of our debt through 2018, before any incremental proceeds from the potential asset sales that we are currently working,” CEO Doug Lawler says.
CHK was one of the biggest gainers in today's session, climbing 6.7%, in part thanks to a sharp rise in crude oil futures.
Oct 5 2016, 17:40 ET | About: Chesapeake Energy Corporation (CHK) | By: Carl Surran, SA News Editor

Chesapeake Energy (NYSE:CHK) says it has amassed more than enough cashto pay bondholders through the end of 2018.
CHK says it has closed its $1.25B private placement of unsecured convertible notes that it can convert to shares in 2019 under certain circumstances, and now has $1B in cash on hand in addition to an undrawn revolving credit line.
“With the cash proceeds from the convertible note offering, we have taken measures to provide excess liquidity to address the remaining maturities of our debt through 2018, before any incremental proceeds from the potential asset sales that we are currently working,” CEO Doug Lawler says.
CHK was one of the biggest gainers in today's session, climbing 6.7%, in part thanks to a sharp rise in crude oil futures.