Chesapeake Energy Corporation Announces Private Exchange Offers For Senior Notes
OKLAHOMA CITY, March 5, 2019 /
PRNewswire/ -- Chesapeake Energy Corporation (NYSE:CHK) (the "Company") today announced the commencement of private offers of new 8.00% Senior Notes due 2026 (the "New Notes") to be issued by the Company in exchange for certain outstanding senior unsecured notes of the Company, upon the terms and subject to the conditions set forth in the Company's confidential offering memorandum and related letter of transmittal, each dated March 5, 2019. The exchange offers are not subject to a minimum or maximum amount.
The following table sets forth each series of outstanding senior unsecured notes subject to the exchange offers (the "Existing Notes") and the applicable consideration offered for such series in the exchange offers for the Existing Notes (the "Exchange Offers").
Principal Amount of New Notes(1)
Title of Series
CUSIP Number/ISIN
Aggregate Principal Amount Outstanding
(in millions)
Early Exchange Consideration, if Tendered and Not Withdrawn Prior to the Early Tender Date
Late Exchange Consideration, if Tendered After the Early Tender Date and Prior to the Expiration Date
6.625% senior notes due 2020
165167CF2
$437.0
$1,040.75
$1,010.75
6.875% senior notes due 2020
165167BU0
165167BT3
U16450AQ8
$227.7
$1,051.90
$1,021.90
6.125% senior notes due 2021
165167CG0
$547.5
$1,046.80
$1,016.80
5.375% senior notes due 2021
165167CK1
$266.7
$1,007.17
$977.17
(1) For each $1,000 principal amount of Existing Notes.