OKLAHOMA CITY, May 15, 2017 /PRNewswire/ -- Chesapeake
Energy Corporation (NYSE:CHK) announced today the expiration and
final results of its previously announced offer to purchase its
2.5% Contingent Convertible Senior Notes due 2037 (the "Notes") at
the option of the holders of the Notes pursuant to the terms of the
Notes. The offer to purchase expired at 5:00
P.M., New York time, on
May 10, 2017 and withdrawal rights
with respect to tendered Notes expired at 5:00 p.m. New
York time, on May 12, 2017.
Holders of an aggregate of $12,625,000 principal amount of the Notes
exercised the holders' right to surrender their Notes for
repurchase, and an aggregate of $2,135,000 principal amount of the Notes remains
outstanding. The repurchase price for any Notes that have been
validly surrendered for purchase and not withdrawn will be paid
promptly following the later of May 16,
2017 and the time of valid surrender of such Notes to the
paying agent.
The holders' right to surrender their Notes for repurchase was
made pursuant to the terms of a Company Notice dated March 30, 2017 (as amended, the "Company
Notice"), which was attached as an exhibit to the Tender Offer
Statement on Schedule TO filed by Chesapeake with the SEC on
March 30, 2017. Holders of the Notes
and other interested parties may obtain a free copy of these
documents at the Securities and Exchange Commission's
website,www.sec.gov, or from the trustee, which is The Bank of New
York Mellon Trust Company, N.A.
The address for The Bank of New York Mellon is:
The Bank of New York Mellon Trust Company, N.A. 111
Sanders Creek Parkway
East Syracuse, NY 13057
Attention: Eric Herr
315-414-3362
This news release is for informational purposes only and does
not constitute an offer to purchase, or solicitation of an offer to
sell, any Notes. None of Chesapeake, its board of directors, or its
employees makes any recommendation to any holder as to whether to
exercise or refrain from exercising their right to surrender Notes
for repurchase, and no one has been authorized by any of them to
make such a recommendation.
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 oil and natural gas marketing
and natural gas gathering and compression businesses.
This news release includes "forward-looking statements"
that give Chesapeake's current expectations or forecasts of future
events, including the timing of the settlement of the repurchase.
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,
2016 and its other filings with the SEC), and actual results
may differ 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.
INVESTOR
CONTACT:
|
MEDIA
CONTACT:
|
Brad Sylvester,
CFA
|
Gordon
Pennoyer
|
405-935-8870
|
405-935-8878
|
ir@chk.com
|
media@chk.com
|
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SOURCE Chesapeake Energy Corporation