Chesapeake Energy Corporation Announces the Expiration and Final Results of Its Cash Tender Offer
May 08 2014 - 4:01PM
Business Wire
Chesapeake Energy Corporation (NYSE:CHK) today announced the
expiration and final results of its previously announced cash
tender offer (the “Tender Offer”) for any and all of its 9.50%
Senior Notes due 2015 (the “Notes”). The Tender Offer expired at
11:59 p.m., New York City time, on May 7, 2014 (the "Expiration
Date"). The full terms and conditions of the Tender Offer are set
forth in the Offer to Purchase and the related Letter of
Transmittal, each dated April 10, 2014.
As previously announced, on April 24, 2014 Chesapeake purchased
$945,908,000 principal amount of its outstanding Notes validly
tendered and not validly withdrawn as of 5:00 P.M., New York City
time, on April 23, 2014 (such date and time, the "Early Tender
Date"). Chesapeake has received and accepted for purchase an
additional $658,000 principal amount of its outstanding Notes
validly tendered subsequent to the Early Tender Date and prior to
the Expiration Date. Holders of Notes that were validly tendered
and accepted for purchase after the Early Tender Date but before
the Expiration Date received in cash, for each $1,000 in principal
amount of Notes tendered, the Purchase Price set forth in the Offer
to Purchase, which does not include the Early Tender Premium, plus
accrued and unpaid interest on the Notes from the last interest
payment date to, but not including, the settlement date. The final
settlement of the Tender Offer occurred today.
The table below sets forth the aggregate principal amount of
Notes that were tendered and the aggregate principal amount of
Notes that were accepted for purchase in the Tender Offer.
Notes
CUSIP/ISINNumbers
Principal AmountOutstanding
PrincipalAmountTendered
PrincipalAmountAccepted
forPurchase
9.50% Senior Notes due 2015
165167CD7/US165167CD78
$1,264,697,000 $946,566,000 $946,566,000
Morgan Stanley & Co. LLC and Citigroup Global Markets Inc.
served as the dealer managers for the Tender Offer. D.F. King &
Co., Inc. served as the tender agent and information agent for the
Tender Offer. For additional information regarding the terms of the
Tender Offer, please contact: Morgan Stanley & Co LLC at (800)
624-1808 (U.S. toll free) or (212) 761-1057 (collect) or Citigroup
Global Markets Inc. at (800) 558-3745 (U.S. toll free) or (212)
723-6106 (collect). Requests for documents and questions regarding
the tender of Notes may be directed to D.F. King & Co, Inc. at
the address, telephone numbers and email address set forth
below.
D.F. King & Co., Inc.48 Wall Street, 22nd
FloorNew York, NY 10005Attention: Krystal Scrudato
Banks and brokers call collect: (212)
269-5550All others call toll-free: (800) 697-6975
Email: chk@dfking.com
This announcement does not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The Tender Offer
was made solely by means of the Offer to Purchase and the related
Letter of Transmittal.
Chesapeake Energy Corporation (NYSE:CHK) is the
second-largest producer of natural gas and the 10th largest
producer of oil and natural gas liquids in the U.S. Headquartered
in Oklahoma City, the company's operations are focused on
discovering and developing its large and geographically diverse
resource base of unconventional natural gas and oil assets onshore
in the U.S. The company also owns substantial marketing,
compression and oilfield services businesses. Further information
is available at www.chk.com where Chesapeake
routinely posts announcements, updates, events, investor
information, presentations and news releases.
Chesapeake Energy CorporationGary T. Clark, CFA,
405-935-8870ir@chk.comorMedia Contacts:Gordon Pennoyer,
405-935-8878media@chk.com
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