OKLAHOMA CITY, Jun 21, 2010 (BUSINESS WIRE) --Chesapeake Energy Corporation (NYSE:CHK) today announced that it will
redeem for cash all outstanding 6.375% Senior Notes due 2015 (CUSIP
165167BL0) on July 22, 2010. The aggregate principal amount of the notes
is $600 million and the redemption price is $1,031.88, which represents
the price to be paid per $1,000 principal amount. The final redemption
price will also include accrued and unpaid interest through the
redemption date.
A notice of redemption will be sent to all currently registered holders
of the notes by the trustee, The Bank of New York Mellon Trust Company,
N.A. Additional information relating to the procedure for redemption may
be obtained from The Bank of New York Mellon by calling toll-free
800-254-2826.
Payment of the redemption price will be made on or after July 22, 2010
upon presentation and surrender of the notes in book-entry form by
transferring the notes to the trustee's account at The Depository Trust
Company in accordance with its procedures or by mail or hand delivery to
The Bank of New York Mellon Trust Company, N.A., 111 Sanders Creek
Parkway, East Syracuse, New York 13057, Attention: Debt Processing
Group. Unless Chesapeake defaults in making the redemption payments,
interest on the notes will cease to accrue on and after the redemption
date and the only remaining right of the holders thereof is to receive
the redemption payment upon surrender of the notes to The Bank of New
York Mellon Trust Company, N.A.
Chesapeake Energy Corporation is one of the largest producers of
natural gas 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 Barnett, Fayetteville,
Haynesville, Marcellus and Bossier natural gas shale plays and in the
Eagle Ford, Granite Wash and various other unconventional oil plays. The
company has also vertically integrated its operations and owns
substantial midstream, compression, drilling and oilfield service
assets. Further information is available at www.chk.com.
SOURCE: Chesapeake Energy Corporation
Chesapeake Energy Corporation
Investor:
Jeffrey L. Mobley, CFA, 405-767-4763
jeff.mobley@chk.com
or
John J. Kilgallon, 405-935-4441
john.kilgallon@chk.com
or
Media:
Jim Gipson, 405-935-1310
jim.gipson@chk.com