Chesapeake Energy Corp. entered into private agreements to issue a total of 68,599,009 common shares in exchange for approximately $145.0 million worth of senior notes.
Under the deal, Chesapeake would exchange the shares for approximately $55.0 million of 8.00% senior notes due 2025, $30.0 million of 5.50% senior notes due 2026 and $60.0 million of 8.00% senior notes due 2027, according to a Sept. 19 SEC filing.
The Oklahoma-based oil, gas and NGL producer previously entered a private securities exchange agreement to issue a total of 250,721,554 common shares for about $588 million of preferred shares and senior notes.
