Chesapeake provides final tender results

Chesapeake Energy Corp. (NYSE: CHK) has provided the final results of its private offers to exchange of new 8.00% senior secured second lien notes due 2022 for certain outstanding senior unsecured notes. As of 11:59 p.m., New York City time, on Dec. 30, 2015, $3.8 billion aggregate principal amount, or approximately 41.5%, of existing notes had been validly tendered and not validly withdrawn.

Last month, the settlement date for existing notes validly tendered and not validly withdrawn prior to 5 p.m., New York City time, on Dec. 18, occurred on Dec. 23. On Dec. 31, the company issued approximately $13.4 million aggregate principal amount of additional second lien notes for existing notes validly tendered after the early tender date and prior to the expiration date in exchange for such existing notes.

Chesapeake will also make a cash payment equal to the accrued and unpaid interest on such existing notes accepted for exchange from the applicable latest interest payment date to, but not including, Dec. 31, 2015. Interest on the second lien notes is accruing from the date of first issuance of second lien notes on Dec. 23, 2015.

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