Chesapeake Energy Corp. (NYSE: CHK) is has commenced a public offering of $600 million of Senior Notes due 2018 and $1 billion of Senior Notes due 2020. The company intends to use the net proceeds 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.
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. Inc., and Wells Fargo Securities LLC acting as joint book-running managers.
Source: Chesapeake Energy Corp.