Chesapeake Energy $150 million 12-year notes talked at 7¾%-7 7/8%, pricing Friday

By Paul A. Harris

St. Louis, Dec. 12 - Price talk of 7¾%-7 7/8% emerged Thursday on Chesapeake Energy Corp.'s upcoming offering of $150 million of senior notes due 2014, according to a market source.

The deal is expected to price Friday afternoon, the source added.

Bear Stearns & Co., Credit Suisse First Boston and Lehman Brothers are joint bookrunners. Morgan Stanley and Salomon Smith Barney are co-managers.

The Rule 144A notes are non-callable for five years.

Proceeds will be used to fund acquisition of natural gas properties from Oneok.

The issuer is an Oklahoma City-based independent natural gas producer.

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