OKLAHOMA CITY, Nov. 16, 2015 /PRNewswire/ -- Chesapeake
Energy Corporation (NYSE: CHK) announced today the expiration and
final results of its previously announced offer to purchase its
2.75% Contingent Convertible Senior Notes due 2035 (the "Notes") at
the option of the holders of the Notes pursuant to the terms of the
Notes. The holders' right to surrender their Notes for
repurchase expired at 5:00 p.m.,
New York time, on November 15, 2015. As of the expiration of
the holders' right to surrender their Notes for repurchase,
$393,757,000 aggregate principal
amount of Notes were tendered and not withdrawn. After giving
effect to the repurchase, an aggregate of $2,044,000 principal amount of the Notes remain
outstanding. Chesapeake expects the final settlement of the
holders' right to surrender their Notes for repurchase to occur
today.
The holders' right to surrender their Notes for repurchase was
made pursuant to the terms of a Company Notice dated October 1, 2015 (the "Company Notice"), which was
attached as an exhibit to the Tender Offer Statement on Schedule TO
filed by Chesapeake with the SEC on October
1, 2015 and supplemented on November
4, 2015. Holders of the Notes and other interested parties
may obtain a free copy of these documents at the Securities and
Exchange Commission's website, www.sec.gov, or from the trustee,
which is The Bank of New York Mellon Trust Company, N.A.
The address for The Bank of New York Mellon is:
The Bank of New York Mellon Trust Company, N.A.
111 Sanders Creek Parkway
East Syracuse, NY 13057
Attention: Dacia Brown-Jones
Fax: (312) 827-8542
This news release is for informational purposes only and does
not constitute an offer to purchase, or solicitation of an offer to
sell, any Notes. None of Chesapeake, its board of directors,
or its employees makes any recommendation to any holder as to
whether to exercise or refrain from exercising their right to
surrender Notes for repurchase, and no one has been authorized by
any of them to make such a recommendation.
Chesapeake Energy Corporation (NYSE:CHK) is the
second-largest producer of natural gas and the 12th largest
producer of oil and natural gas liquids in the U.S. Headquartered
in Oklahoma City, the company's
operations are focused on discovering and developing its large and
geographically diverse resource base of unconventional natural gas
and oil assets onshore in the U.S. The company also owns
substantial marketing and compression businesses. Further
information is available at www.chk.com where Chesapeake
routinely posts announcements, updates, events, investor
information, presentations and news releases.
This news release includes "forward-looking statements"
that give Chesapeake's current expectations or forecasts of future
events, including the timing of the settlement of the repurchase.
Although we believe the expectations and forecasts reflected in our
forward-looking statements are reasonable, we can give no assurance
they will prove to have been correct. They can be affected by
inaccurate or changed assumptions or by known or unknown risks and
uncertainties (including those stated in Chesapeake's Annual Report
on Form 10-K for the year ended December 31,
2014), and actual results may differ from the expectation
expressed. We caution you not to place undue reliance on our
forward-looking statements, which speak only as of the date of this
news release, and we undertake no obligation to update this
information, except as required by applicable law.
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INVESTOR
CONTACT:
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MEDIA
CONTACT:
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CHESAPEAKE ENERGY
CORPORATION
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Brad Sylvester,
CFA (405)
935-8870 ir@chk.com
|
Gordon Pennoyer
(405) 935-8878
media@chk.com
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6100 North Western
Avenue P.O. Box
18496 Oklahoma City, OK
73154
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SOURCE Chesapeake Energy Corporation