Chesapeake completes cash tender offer

Chesapeake Energy yesterday announced the completion of its cash tender offer, with some additional take-up after the early bird offer. Almost $1.4 billion of dollar-denominated notes were tendered in total.

At the time of the early bird expiry on 17 August, Chesapeake had purchased around $245.05 million principal amount of 7% senior 2014 notes, $566.24 million of 6.625% senior 2016 notes and $582.26 million of 6.25% senior 2018 notes. Subsequently, the firm accepted for purchase and additional $60,000 of ’14 notes, $288,000 of ‘16s and $207,000 of ‘18s.

Credit Suisse served as the dealer manager for the tender offers and solicitation agent for the consent solicitations.