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Prospect News home > News index > List of issuers T > Headlines for Tenders 2010 > News item |
Chesapeake swaps shares for $10.64 million of 2.25% convertibles
By Susanna Moon
Chicago, May 4 - Chesapeake Energy Corp. issued 298,500 common shares in exchange for $10,636,000 principal amount of its 2.25% contingent convertible senior notes due 2038, according to an 8-K filing with the Securities and Exchange Commission.
The company said it entered into two unsolicited transactions with holders of the convertibles effective Jan. 6 and the transactions closed on Jan. 11.
The amount represents 1.39% of the total outstanding principal amount of the convertibles.
Chesapeake said it retired 5,000 shares of its 5% cumulative convertible preferred stock, which were acquired by the company as the result of a mandatory conversion of the preferreds into common shares on May 3.
The issuer is an Oklahoma City-based oil and gas exploration and production company.
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