Chesapeake Energy Corp., Oklahoma City, (NYSE: CHK) anticipates retiring approximately $2 billion in aggregate principal amount of convertible notes and nonconvertible notes in separate tender offers.
The company is offering to tender up to $1 billion of contingent convertible senior notes consisting of 2.75% contingent convertible senior notes due 2035, 2.5% contingent convertible senior notes due 2037 and 2.25% contingent convertible senior notes due 2038.
Chesapeake also commenced a separate tender offer to acquire up to $1 billion in principal amount of its 7.625% senior notes due 2013, 9.5% senior notes due 2015, 6.25% Euro-denominated senior notes due 2017, 6.5% senior notes due 2017, 6.875% senior notes due 2018, 7.25% senior notes due 2018 and 6.625% senior notes due 2020 (collectively, the nonconvertible notes).
Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and RBS Securities Inc. are dealer managers for the tender offers.
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