06.10.2016, 02:55
Chesapeake Energy Corporation's Recent Transactions Significantly Improve Capital Structure
OREANDA-NEWS. October 06, 2016. Chesapeake Energy Corporation (NYSE:CHK) today provided an update on the significant improvements in its capital structure following recent transactions.
Today, the company closed a private placement of \\$1.25 billion of unsecured convertible senior notes, with a provisional call feature that will give Chesapeake an opportunity to convert the debt to equity in three years if the company's stock trades above 130% of the conversion price for a specified period.
The company's cash on hand as of September 30, and pro forma for the convertible debt issuance, was approximately \\$1.0 billion with no borrowings on its revolving bank credit facility.
Today, the company closed a private placement of \\$1.25 billion of unsecured convertible senior notes, with a provisional call feature that will give Chesapeake an opportunity to convert the debt to equity in three years if the company's stock trades above 130% of the conversion price for a specified period.
The company's cash on hand as of September 30, and pro forma for the convertible debt issuance, was approximately \\$1.0 billion with no borrowings on its revolving bank credit facility.
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