Chesapeake Energy Corporation Announces the Expiration and Final Results of Its Cash Tender Offers
Chesapeake Energy Corporation (NYSE:CHK) today announced the expiration
and final results of its previously announced cash tender offers
(collectively the 'Tender Offers? and each a 'Tender Offer?) for any and
all of its 7.625% Senior Notes due 2013 (the '2013 Notes?) and its
6.875% Senior Notes due 2018 (the '2018 Notes? and, together with the
2013 Notes, the 'Notes?). The tender offers expired at 11:59 p.m., New
York City time, on April 12, 2013 (the 'Expiration Date'). The full
terms and conditions of the Tender Offers are set forth in the Offer to
Purchase and the related Letter of Transmittal, each dated March 18,
2013.
As previously announced, on April 1, 2013 Chesapeake purchased
$216,187,000 principal amount of its outstanding 2013 Notes and
$376,595,000 principal amount of its outstanding 2018 Notes validly
tendered and not validly withdrawn as of 5:00 P.M., New York City time,
on March 28, 2013 (such date and time, the 'Early Tender Date').
Chesapeake has received and accepted for purchase an additional $619,000
principal amount of its outstanding 2013 Notes and $415,000 principal
amount of its outstanding 2018 Notes validly tendered subsequent to the
Early Tender Date and prior to the Expiration Date. Holders of Notes
that were validly tendered and accepted for purchase after the Early
Tender Date but before the applicable Expiration Date received in cash,
for each $1,000 in principal amount of Notes tendered, the applicable
Purchase Price set forth in the Offer to Purchase, which did not include
the Early Tender Premium. The final settlement of the Tender Offers
occurred today.
The table below sets forth the aggregate principal amount of each series
of Notes that was tendered and the aggregate principal amount of each
series of Notes that was accepted for purchase in the Tender Offers.
? | ? | ? | ? | Principal | |||||||
| Principal | Principal | Amount | |||||||||
| CUSIP/ISIN | Amount | Amount | Accepted for | ||||||||
Notes | Numbers | Outstanding | Tendered | Purchase | |||||||
| |||||||||||
7.625% Senior Notes due 2013 | 165167BY2/ US165167BY25 | $ | 464,110,000 | $ | 216,806,000 | $ | 216,806,000 | ||||
6.875% Senior Notes due 2018 | 165167CE5/ US165167CE51 | $ | 473,668,000 | $ | 377,010,000 | $ | 377,010,000 | ||||
? | |||||||||||
Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. LLC served
as the dealer managers for the Tender Offers. D.F. King & Co., Inc.
served as the tender agent and information agent for the Tender Offers.
For additional information regarding the terms of the Tender Offers,
please contact: Credit Suisse Securities (USA) LLC at (800) 820-1653
(U.S. toll free) or (212) 538-2147 (collect) or Morgan Stanley & Co. LLC
at (800) 624-1808 (U.S. toll free) or (212) 761-1057 (collect). Requests
for documents may be directed to D.F. King & Co, Inc. at the address,
telephone numbers and email address set forth below.
D.F. King & Co., Inc.
48 Wall Street, 22nd Floor
New York,
NY 10005
Attention: Elton Bagley
Banks and brokers call collect: (212) 269-5550
All others call
toll-free: (800) 697-6975
Email: chk@dfking.com
This announcement does not constitute an offer to purchase or a
solicitation of an offer to sell any securities. The Tender Offers were
made solely by means of the Offer to Purchase and the related Letter of
Transmittal.
Chesapeake Energy Corporation (NYSE:CHK) is the second-largest
producer of natural gas, a top 11 producer of oil and natural gas
liquids and the most active driller of new wells in the U.S.
Headquartered in Oklahoma City, the company's operations are focused on
discovering and developing unconventional natural gas and oil fields
onshore in the U.S. Chesapeake owns leading positions in the Eagle Ford,
Utica, Granite Wash, Cleveland, Tonkawa, Mississippi Lime and Niobrara
unconventional liquids plays and in the Marcellus, Haynesville/Bossier
and Barnett unconventional natural gas shale plays. The company also
owns substantial marketing and oilfield services businesses through its
subsidiaries Chesapeake Energy Marketing, Inc. and Chesapeake Oilfield
Operating, L.L.C. Further information is available at www.chk.com
where Chesapeake routinely posts announcements, updates, events,
investor information, presentations and news releases.
Chesapeake Energy Corporation
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
Gary
T. Clark, CFA, 405-935-6741
gary.clark@chk.com
or
Media
Contacts:
Michael Kehs, 405-935-2560
michael.kehs@chk.com
or
Jim
Gipson, 405-935-1310
jim.gipson@chk.com
