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Chesapeake posts final results of senior notes tender offer

Chesapeake Energy Corp. on Jan. 7 reported the final results of its previously announced tender offer to purchase 6.875% senior notes due 2025 issued by its subsidiaries Brazos Valley Longhorn LLC and Brazos Valley Longhorn Finance Corp.

As of the expiration date of Jan. 6, approximately $616.2 million, or about 99.74%, of the notes were validly tendered, according to a news release. No notes were tendered after the early tender date of Dec. 19, 2019.

The tender offer is part of a number of transactions aimed at strengthening its financial flexibility and providing support for its debt burdens.

J.P. Morgan Securities LLC served as the dealer manager and solicitation agent in the offer.