Chesapeake Energy holders put $7.8 million 2.25% convertibles at par

By Susanna Moon

Chicago, Dec. 17 – Chesapeake Energy Corp. said holders had exercised the put option for $7,809,000 of its outstanding 2.25% convertible senior notes due 2038.

After the repurchase, $923,000 principal amount of the notes remains outstanding, according to a company announcement.

The company said on Oct. 31 that the notes were putable at par until 5 p.m. ET on Dec. 12.

Holders will also receive accrued interest to the settlement date.

Bank of New York Mellon is the paying agent.

The notes were not convertible because the conditions for conversion had not been met, according to a previous press release.

Chesapeake Energy is an Oklahoma City-based oil and gas producer.

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