Chesapeake Energy Corp.
Description
Retained Goldman Sachs Bank USA, Citigroup Global Markets Inc. and MUFG to assist with the arrangement of a secured five-year term loan. Net proceeds from the loan will finance tender offers for unsecured notes. Through the five-year term loan and a buyback of series of senior notes, Chesapeake will be able to retire debt with upcoming maturities. The loan will be from one or more commercial banks, and will be secured by the same collateral securing the revolving credit facility.