Chesapeake Energy agrees to swap $145 million of notes for stock

By Sarah Lizee

Olympia, Wash., Sept. 19 – Chesapeake Energy Corp. entered into a series of privately negotiated securities exchange agreements, under which it agreed to issue common stock in exchange for senior notes, according to an 8-K filing with the Securities and Exchange Commission.

The exchange agreements were executed between Sept. 13 through Sept. 18.

Chesapeake Energy has issued or agreed to issue 68,599,009 shares of its common stock in exchange for the following:

• About $55 million of its 8% senior notes due 2025;

• About $30 million of its 5½% senior notes due 2026; and

• About $60 million of its 8% senior notes due 2027.

The oil and gas company is based in Oklahoma City.

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