Chesapeake Energy Corporation (NYSE:CHK) today announced the early tender results for its previously announced cash tender offer (the “Tender Offer”) for any and all of its 9.50% Senior Notes due 2015 (the “Notes”).
Chesapeake also announced today that it had completed an offering of $3.0 billion in principal amount of its senior notes, which was a condition to its obligation to accept for purchase and to pay for any Notes in the Tender Offer. Subject to the terms and conditions set forth in the Offer to Purchase, Chesapeake today accepted for purchase all Notes validly tendered in the Tender Offer as of 5:00 p.m., New York City time, on April 23, 2014 (such date and time, the "Early Tender Date").
The Tender Offer is being made pursuant to an Offer to Purchase and a related Letter of Transmittal, each dated April 10, 2014, which set forth a more detailed description of the terms and conditions of the Tender Offer.
Principal Amount Outstanding
Early Tender Results
|9.50% Senior Notes due 2015||165167CD7/US165167CD78||$1,264,697,000||$ 945,908,000|
The column in the table above entitled “Early Tender Results” shows the aggregate principal amount of Notes that were validly tendered in the Tender Offer as of the Early Tender Date. Holders of Notes that were validly tendered at or prior to the Early Tender Date received the Total Consideration, as set forth in the Offer to Purchase, which included the Early Tender Premium of $30.00 per $1,000 in principal amount of Notes, plus accrued and unpaid interest on the Notes from the last interest payment date to, but not including, the settlement date for Notes tendered at or prior to the Early Tender Date. The Total Consideration with respect to the Notes has not been changed.
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