Chesapeake closes $4B senior unsecured revolving credit facility

Chesapeake Energy Corp.

Chesapeake Energy Corp. (NYSE:CHK) has closed on a new five-year, $4 billion senior unsecured revolving credit facility. The new facility replaces the existing $4 billion senior secured revolving credit facility that was scheduled to mature in December 2015. The aggregate commitments may be increased up to an additional $1 billion, and the new credit agreement matures Dec. 15, 2019, with two one-year extension options.

Chesapeake intends to use the proceeds of the new unsecured credit facility for working capital and general corporate purposes.

The new credit facility was led by MUFG Union Bank NA, as administrative agent, co-syndication agent, swingline lender, and a letter of credit issuer, and by Wells Fargo Bank, National Association, as co-syndication agent, swingline lender, and a letter of credit issuer. Bank of America NA, Crédit Agricole Corporate and Investment Bank, and JPMorgan Chase Bank NA are co-documentation agents and letter of credit issuers. MUFG Union Bank NA and Wells Fargo Securities LLC served as joint lead arrangers and joint bookrunners for the transaction.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...