OKLAHOMA CITY, June 22, 2017 /PRNewswire/ -- Chesapeake
Energy Corporation (NYSE:CHK) (the "Company") today announced that
the Company is calling for redemption in full on July 24, 2017 (the "Redemption Date") all of its
outstanding 2.75% Contingent Convertible Senior Notes due 2035 (the
"Notes"), of which an aggregate principal amount of approximately
$2.0 million 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 165167BW6. The Redemption Price for each
$1,000 principal amount of Notes is
$1,000, together with accrued and
unpaid interest of approximately $5.27 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 November
8, 2005, as amended and supplemented, with respect to the
Notes (the "Indenture"). As of the date hereof, the conversion rate
for the Notes is 27.7683. 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. Chesapeake also owns oil and natural gas marketing
and natural gas compression
businesses.
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