Amounts borrowed under the new term loan facility will be unsecured and will be unconditionally guaranteed on a joint and several basis by Chesapeake’s direct and indirect wholly owned domestic subsidiaries that are subsidiary guarantors under the company’s existing senior notes indentures. The new term loan facility will permit Chesapeake to repay other unsecured indebtedness, including amounts outstanding under the existing term loan facility, Chesapeake’s 6.775% Senior Notes due 2019, Chesapeake’s 7.625% Senior Notes due 2013 and up to $1.2 billion of other senior unsecured indebtedness. Additionally, the new term loan facility will permit Chesapeake to refinance its existing senior unsecured indebtedness with longer-dated senior unsecured notes.Chesapeake's ability to establish the new facility and borrow thereunder will be subject to the receipt of commitments from lenders to provide the facility, the negotiation and execution of definitive loan documents and other customary conditions.
Chesapeake Energy Corporation Announces Arrangement Of $2.0 Billion Unsecured Term Loan Facility
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