Chesapeake Energy to sell $800M in senior notes

By Associated Press May 19, 2008 Comments (0)

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Natural-gas and oil producer Chesapeake Energy Corp. on Monday said it will sell $800 million of senior notes due 2018 in a public offering.

Chesapeake plans to use the proceeds from the offering, along with proceeds from its public offering of $500 million in contingent convertible senior notes, to fund the redemption of its 7.75 percent senior notes due 2015, repay debt and for general corporate purposes.

Credit Suisse, Banc of America Securities, Lehman Brothers, Deutsche Bank Securities and RBS Greenwich Capital will act as joint underwriters for the offering.

Chesapeake Energy shares fell 94 cents to $58 in aftermarket trading, after rising 16 cents to $58.94 in the regular session.

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