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Chesapeake Energy Announces $1.25 Bln Senior Notes Offering - Quick Facts

Chesapeake Energy Corp. (CHK) announced it has commenced an underwritten public offering of $1.25 billion aggregate principal amount of senior notes, consisting of a series of senior notes due 2024 and a series of senior notes due 2026. The company intends to use the net proceeds, together with cash on hand and borrowings under its revolving credit facility, to repay borrowings under its secured term loan due 2021.

The company noted that, if the net proceeds exceed the amount due under the Term Loan, it intends to use the remaining net proceeds for general corporate purposes, which may include the repayment, redemption or repurchase of outstanding indebtedness, including its second lien notes.

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