Chesapeake wraps up nearly $8 million in buyback of shares


(PRNewsfoto/Chesapeake Energy Corporation)


Chesapeake Energy says its buyback program of Senior notes resulted in nearly $8 million in notes repurchased by the Oklahoma City energy company.

The company said holders of $7,809,000 in 2.25% convertible Senior Notes due 2038 excised their right to surrender the notes for repurchase.  Another $923,000 in notes remains outstanding.

The offer to purchase expired at 5 p.m. New York time on Dec. 12 and the withdrawal rights to the tendered notes ended at 5 p.m. New York time on Dec. 14, 2018.

Chesapeake intends to make payments on Dec. 17, 2018. The original buyback plan was announced in October.