OKLAHOMA CITY, Dec. 28, 2018 /PRNewswire/ -- Chesapeake
Energy Corporation (NYSE:CHK) (the "Company") today announced that
the Company is calling for redemption in full on January 28, 2019 (the "Redemption Date") all of
its outstanding 2.25% Contingent Convertible Senior Notes due 2038
(the "Notes"), of which an aggregate principal amount of
approximately $923,000 is
outstanding. The Notes are called for redemption at a redemption
price (the "Redemption Price"), in any integral multiple of
$1,000, equal to 100% of the
principal amount of the Notes to be redeemed, together with accrued
but unpaid interest thereon, up to but not including the Redemption
Date. The CUSIP number for the Notes is 165167CB1. The Redemption
Price for each $1,000 principal
amount of Notes is $1,000, together
with accrued and unpaid interest of approximately $2.75 thereon payable with respect to each
$1,000 principal amount of the Notes
to the Redemption Date. Notes called for redemption may be
converted at any time before the close of business on the business
day immediately preceding the Redemption Date. Holders who want to
convert their Notes must satisfy the requirements set forth in the
Notes and the Indenture dated as of May 27,
2008, as amended and supplemented, with respect to the Notes
(the "Indenture"). As of the date hereof, the conversion rate for
the Notes is 12.4755. Capitalized terms used but not defined herein
shall have the respective meanings assigned to such terms in the
Indenture.
On the Redemption Date, the Redemption Price will become due and
payable upon each of the Notes and, unless the Company defaults in
the payment of the Redemption Price or accrued interest, interest
thereon will cease to accrue on and after the Redemption Date and
the only remaining right of the holders is to receive payment of
the Redemption Price upon surrender to the Paying Agent. The Notes
called for redemption must be surrendered to the Paying Agent at
the address specified below to collect the Redemption Price,
together with accrued but unpaid interest thereon. Payment of the
Redemption Price and surrender of the Notes for redemption will be
made through the facilities of the Depository Trust Company. The
name and address of the Paying Agent and Conversion Agent is as
follows:
The Bank of New York Mellon Trust
Company, N.A.
Global Corporate Trust
111 Sanders Creek Parkway
East Syracuse, New York 13057
Attn: Redemption Unit
This press release does not constitute an offer to purchase or
redeem, or a solicitation of an offer to sell, the Notes.
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. The company also owns an oil and natural gas
marketing business.
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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