Chesapeake Energy Corporation announced it has acquired more than $616 million in Senior notes in the Oklahoma City company’s recent tender offer on behalf of its subsidiaries Brazos Valley Longhorn, LLC and Brazos Valley Longhorn Finance Corp.
In a Tuesday announcement, the company said the cash offer involved any and all of its outstanding 6.875% Senior Notes due 2025. As of the expiration time on January 6, 2020, approximately $616.2 million or nearly 99.74% of the notes were validly tendered and delivered.
Chesapeake accepted for purchase approximately $616.2 million aggregate principal amount of Notes that were validly tendered and not validly withdrawn as of 5:00 p.m., New York City time, on December 19, 2019. The early settlement date for the Notes occurred on December 23, 2019. No Notes were tendered after the Early Tender Date.
J.P. Morgan Securities LLC acted as the dealer manager and solicitation agent in the Tender Offer and Consent Solicitation. Global Bondholder Services Corporation served as both the depositary and the information agent for the Tender Offer and Consent Solicitation.