OKLAHOMA CITY, Sept. 26, 2018 /PRNewswire/ -- Chesapeake Energy
Corporation (NYSE: CHK) today announced that it has priced its
underwritten public offering of $1.25
billion aggregate principal amount of senior notes,
consisting of $850 million of 7.00%
senior notes due 2024 (the "2024 Notes") issued at par and
$400 million of 7.50% senior notes
due 2026 (the "2026 Notes" and, together with the 2024 Notes, the
"Notes") issued at par. The closing of the offering is expected to
occur on September 27, 2018 and is
subject to the satisfaction of customary closing conditions.
Chesapeake intends to use the net proceeds from this offering,
together with cash on hand and borrowings under its revolving
credit facility, to repay borrowings under its secured term loan
due 2021 (the "Term Loan").
This offering is being made only by means of a prospectus
supplement and the accompanying base prospectus. Chesapeake
has an effective shelf registration statement, filed on
August 3, 2017, on file with the
Securities and Exchange Commission. Goldman Sachs & Co. LLC,
J.P. Morgan Securities LLC, Wells Fargo Securities, LLC and MUFG
Securities Americas Inc. will act as joint book-running managers
for the offering of the Notes. Copies of the preliminary prospectus
supplement and the accompanying prospectus relating to the offering
may be obtained from Goldman Sachs & Co. LLC, Prospectus
Department, 200 West Street, New York,
NY 10282, by telephone: (866) 471-2526, by facsimile: (212)
902-9316 or by e-mail: Prospectus-ny@ny.email.gs.com; from J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY,
11717 or by telephone: (866) 803-9204; from Wells Fargo Securities,
LLC, Attn: WFS Customer Service, 608 2nd Ave S, Suite 1000,
Minneapolis, MN 55402, by
telephone: (800) 645-3751, Opt. 5 or by e-mail:
wfscustomerservice@wellsfargo.com; or from MUFG Securities Americas
Inc., by telephone: (877) 649-6848. An electronic copy of these
documents will be available on the SEC's website at www.sec.gov.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale is unlawful.
Headquartered in Oklahoma
City, Chesapeake Energy Corporation's (NYSE:CHK) operations
are focused on discovering and developing its large and
geographically diverse resource base of unconventional oil and
natural gas assets onshore in the United
States. Chesapeake also owns an oil and natural gas
marketing business.
This news release includes "forward-looking statements" that
give Chesapeake's current expectations or forecasts of future
events, including the use of proceeds and other matters relating to
the notes offering. Although we believe the expectations and
forecasts reflected in our forward-looking statements are
reasonable, we can give no assurance they will prove to have been
correct. They can be affected by inaccurate or changed assumptions
or by known or unknown risks and uncertainties (including those
stated in Chesapeake's Annual Report on Form 10-K for the year
ended December 31, 2017 and its other
filings with the SEC), that could cause actual results to differ
materially from the expectation expressed. We caution you not to
place undue reliance on our forward-looking statements, which speak
only as of the date of this news release, and we undertake no
obligation to update this information, except as required by
applicable law.
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INVESTOR
CONTACT:
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MEDIA
CONTACT:
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CHESAPEAKE ENERGY
CORPORATION
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Brad Sylvester,
CFA
(405)
935-8870
ir@chk.com
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Gordon
Pennoyer
(405)
935-8878
media@chk.com
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6100 North Western
Avenue
P.O. Box
18496
Oklahoma City, OK
73154
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SOURCE Chesapeake Energy Corporation