Chesapeake Commences Public Offering of $500MM of Senior Notes
Chesapeake is commencing a public offering of $500 million of senior notes due 2015. Chesapeake intends to use the net proceeds from the offering to repay outstanding indebtedness under its revolving bank credit facility, which it anticipates reborrowing from time to time to fund drilling and leasehold acquisition initiatives and for general corporate purposes.
The senior notes are being offered pursuant to a shelf registration statement filed today with the U.S. Securities and Exchange Commission. Chesapeake intends to list the notes on the New York Stock Exchange after issuance.
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