Chesapeake Energy to repay revolver debt with convertible and senior notes offerings

By Sara Rosenberg

New York, May 19 - Chesapeake Energy Corp. plans to repay borrowings under its revolving credit facility using proceeds from a $500 million convertible senior notes offering and an $800 million senior notes offering, according to a news release.

Remaining proceeds from the deals will be used to fund the redemption of the company's 7¾% senior notes due 2015 and for general corporate purposes.

Chesapeake is an Oklahoma City-based oil and natural gas exploration and production company.

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