Chesapeake Energy Corporation (NYSE:CHK) today announced the expiration
and final results of its previously announced cash tender offer (the
“Tender Offer”) for any and all of its 9.50% Senior Notes due 2015 (the
“Notes”). The Tender Offer expired at 11:59 p.m., New York City time, on
May 7, 2014 (the "Expiration Date"). The full terms and conditions of
the Tender Offer are set forth in the Offer to Purchase and the related
Letter of Transmittal, each dated April 10, 2014.
As previously announced, on April 24, 2014 Chesapeake purchased
$945,908,000 principal amount of its outstanding Notes validly tendered
and not validly withdrawn as of 5:00 P.M., New York City time, on April
23, 2014 (such date and time, the "Early Tender Date"). Chesapeake has
received and accepted for purchase an additional $658,000 principal
amount of its outstanding Notes validly tendered subsequent to the Early
Tender Date and prior to the Expiration Date. Holders of Notes that were
validly tendered and accepted for purchase after the Early Tender Date
but before the Expiration Date received in cash, for each $1,000 in
principal amount of Notes tendered, the Purchase Price set forth in the
Offer to Purchase, which does not include the Early Tender Premium, plus
accrued and unpaid interest on the Notes from the last interest payment
date to, but not including, the settlement date. The final settlement of
the Tender Offer occurred today.
The table below sets forth the aggregate principal amount of Notes that
were tendered and the aggregate principal amount of Notes that were
accepted for purchase in the Tender Offer.
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Notes
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CUSIP/ISIN Numbers
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Principal Amount Outstanding
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Principal Amount Tendered
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Principal Amount Accepted for Purchase
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9.50% Senior Notes due 2015
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165167CD7/ US165167CD78
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$1,264,697,000
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$946,566,000
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$946,566,000
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Morgan Stanley & Co. LLC and Citigroup Global Markets Inc. served as the
dealer managers for the Tender Offer. D.F. King & Co., Inc. served as
the tender agent and information agent for the Tender Offer. For
additional information regarding the terms of the Tender Offer, please
contact: Morgan Stanley & Co LLC at (800) 624-1808 (U.S. toll free) or
(212) 761-1057 (collect) or Citigroup Global Markets Inc. at (800)
558-3745 (U.S. toll free) or (212) 723-6106 (collect). Requests for
documents and questions regarding the tender of Notes may be directed to
D.F. King & Co, Inc. at the address, telephone numbers and email address
set forth below.
D.F. King & Co., Inc.
48 Wall Street, 22nd Floor
New York,
NY 10005
Attention: Krystal Scrudato
Banks and brokers call collect: (212) 269-5550
All others call
toll-free: (800) 697-6975
Email: chk@dfking.com
This announcement does not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The Tender Offer was
made solely by means of the Offer to Purchase and the related Letter of
Transmittal.
Chesapeake Energy Corporation (NYSE:CHK) is the second-largest
producer of natural gas and the 10th largest producer of oil and natural
gas liquids in the U.S. Headquartered in Oklahoma City, the company's
operations are focused on discovering and developing its large and
geographically diverse resource base of unconventional natural gas and
oil assets onshore in the U.S. The company also owns substantial
marketing, compression and oilfield services businesses. Further
information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.
Copyright Business Wire 2014