Chesapeake Boosts Bridge Loan To $4 Billion From $3 Billion -Reuters

Date : 05/15/2012 @ 11:40AM
Source : Dow Jones News
Stock : Chesapeake Energy Corp. (CHK)
Quote : 3.8  -0.04 (-1.04%) @ 7:16PM

Chesapeake Boosts Bridge Loan To $4 Billion From $3 Billion -Reuters

Chesapeake (NYSE:CHK)
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Chesapeake Energy Corp. (CHK) upsized its bridge loan to $4 billion from $3 billion, Reuters reported Tuesday.

Sources said the loan is set to mature in 2017 and is expected to price at 97 cents on the dollar, compared with initial guidance of 96 cents, Reuters reported.

The report said the loan is "talked at" a rate of 700 basis points over Libor with a 1.5% Libor floor.

Reuters said the loan has received strong interest from investors including hedge funds.

Full story at http://www.reuters.com/article/2012/05/15/idUSL1E8GF3TN20120515

-Dow Jones Newswires; 212-416-2900

 
 

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