Finance - Redemptions
Chesapeake purchased some US $216.2 million of its outstanding 2013 notes and some US $376.6 million of its outstanding 2018 notes.
Holders may elect to convert the notes at any time before May 15.
The company also filed with the SEC a notice of its intention to redeem all 4 million of its series D mandatory redeemable preferred shares.
Range called for redemption all its 7.25% senior subordinated notes due 2018.
Offshore Group has also delivered notice of its intention to redeem any and all of the 11.5% senior secured first lien notes due 2015.
Harvest entered into a senior unsecured credit facility for US $400 million with a syndicate of four lenders.
Chesapeake intends to redeem the notes as part of a broader refinancing of its outstanding debt obligations.
Proceeds from the sale will be used to reduce debt, fund capital expenditures, and for general corporate purposes.
The redemption will be made for a cash amount equal to US $1,000 per US $1,000 principal amount of subordinated notes.
The indenture trustee with face value of $83.72 million has been notified that the bond will be redeemed.
The company also announced that, on April 30, 2012, it will redeem the entire balance of $47,795,000 in aggregate principal amount of 2004 Notes that remain outstanding
The redemption will be funded with proceeds raised in the company's recent issuance of $375 million in aggregate principal amount of 5.875% Senior Notes due 2020.