Chesapeake Offers $1.6B in Senior Notes

Chesapeake announced that it is commencing a public offering of $600 million of Senior Notes due 2018 and $1 billion of Senior Notes due 2020. Chesapeake intends to use the net proceeds from the offerings to pay the purchase price or redemption price, as applicable, of its outstanding $300 million of 7.00% Senior Notes due 2014, $600 million of 6.625% Senior Notes due 2016 and $600 million of 6.25% Senior Notes due 2018 and for general corporate purposes.

The notes are being offered pursuant to a shelf registration statement filed August 3, 2010, with the U.S. Securities and Exchange Commission. Chesapeake intends to list the notes on the New York Stock Exchange after issuance. Credit Suisse Securities (USA) LLC will act as lead book running manager for the notes offering with Bank of America Securities LLC, Barclays Capital, Inc., Morgan Stanley & Co. Incorporated and Wells Fargo Securities, LLC acting as joint book-running managers.


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