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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Chesapeake Energy Corporation | NASDAQ:CHK | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -3.20 | -3.56% | 86.68 | 85.60 | 86.70 | 89.905 | 85.97 | 89.70 | 4,025,387 | 22:14:00 |
From May 2019 to May 2024
By Austen Hufford
Chesapeake Energy Corp. said Monday it is working with banks to take out a $1 billion line of credit in order to retire debt.
The company said it had engaged Goldman Sachs, Citigroup and MUFG to assist with arranging a secured five-year term loan for $1 billion. In tandem, it said it had launched two sets of tender offers, each to buy back $500 million of notes.
Chesapeake has been working in recent months to clean up its finances as energy prices remain low. Earlier this month it paid nearly $340 million to exit the Barnett Shale in Texas and reduce its financial commitments there.
Chesapeake also said recently that it intends to sell more than $2 billion in assets this year.
Oklahoma City-based Chesapeake develops oil and natural gas assets in the U.S.
Chesapeake shares, which have risen 24% in the past three months, rose 1.6% in premarket trading.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
August 15, 2016 08:02 ET (12:02 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
1 Year Chesapeake Energy Chart |
1 Month Chesapeake Energy Chart |
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