Chesapeake Energy upsizes senior note offering to €600 million from €400 million, talk remains 6 3/8% area

By Paul A. Harris

St. Louis, Nov. 30 - Chesapeake Energy Corp. has upsized to €600 million from €400 million its offering of senior notes due Jan. 15, 2017 (Ba2/BB/expected BB), according to market sources.

Meanwhile price talk remains at the 6 3/8% area.

The notes are expected to price on Friday morning.

Barclays Capital, Credit Suisse, Deutsche Bank Securities and Goldman Sachs International are joint bookrunners for the registered offering. ABN Amro, Banc of America Securities LLC, BNP Paribas, Fortis Securities, Lehman Brothers, The Royal Bank of Scotland plc and UBS Investment Bank are senior co-managers. HVB, BMO Capital Markets, Calyon Securities, DZ Financial Markets LLC, Natexis Bleichroeder, RBC Capital Markets and TD Securities are co-managers.

The notes will come with a make-whole call at Bunds plus 50 basis points.

Proceeds will be used to repay bank debt, which may be reborrowed for general corporate purposes, including potential future acquisitions.

The prospective issuer is an Oklahoma City-based energy producer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.