Chesapeake Energy bonds up in active trading on news of asset sale

By Paul Deckelman

New York, Sept. 12 - Chesapeake Energy Corp.'s bonds were higher in busy dealings at midday on news that the Oklahoma City-based natural gas company will sell assets in the Permian Basin region of Texas and elsewhere for $6.9 billion and use the proceeds to repay debt.

The company's 9½% notes due 2015 were up about 2 1/8 points, at 113 3/8, on midday volume of more than $37 million traded.

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