Chesapeake Seeks $2B To Retire Pricey Loans

Law360, New York (November 1, 2012, 3:40 PM EDT) -- Chesapeake Energy Corp. said Thursday that it will issue $2 billion in new debt to replace more expensive loans, its second major refinancing in five months as it moves to tackle a bloated balance sheet and finance its transition from gas to oil.

The company, America’s second-biggest producer of natural gas, has hired Bank of America NA, Goldman Sachs Bank USA and Jefferies Finance LLC to arrange the loans, which will retire a $3 billion term loan provided by Jefferies and Goldman Sachs in May and...
To view the full article, register now.