Chesapeake Energy gets consents needed to amend five series of notes

By Angela McDaniels

Tacoma, Wash., Aug. 22 - Chesapeake Energy Corp. said it received consents from holders of a majority of its $363.82 million 7½% senior notes due 2013, $300 million 7½% senior notes due 2014, $300 million 7% senior notes due 2014, $600 million 6 3/8% senior notes due 2015 and $670.44 million 6 7/8% senior notes due 2016.

The consents will allow the company to amend the indentures governing the notes to conform the definition of "unrestricted subsidiary indebtedness" to the definition found in the indentures governing its $600 million 6 5/8% senior notes due 2016 and $600 million 6 5/8% senior notes due 2018.

The consent solicitation began on Aug. 13 and expired at 5 p.m. ET on Friday.

Holders who consented will receive a consent fee of $3.75 for each $1,000 principal amount of notes, according to a company news release.

The company said the amendments to the indentures will become effective following the execution of a supplemental indenture and the payment of the consent fees, which it expects to occur promptly.

The information agent was D.F. King & Co., Inc. (800 549-6697 or 212 269-5550), and the solicitation agent was Banc of America Securities LLC (888 292-0070 or 704 388-4813).

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

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