Okay now, Chesapeake cannot manage its current $10 billion in debt, so a group of lenders provide an additional $1.5 billion in loans to help with the various current debt issues. So now the company has $11.5 billion to repay. Great.
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Referencing previous post: I’m sure employees don’t want it to die because most have a family to feed.
Attention creditors, investors, bond salesman, and pretty much anyone else who has a dollar:
Please stop giving Chesapeake Energy money - you're only encouraging it. Let it just die already.
Think much?
This train-wreck is being guided right into a train trestle embankment just like its founder did...
@NickIsAHero The $1.5B has nothing to do with the tender list you are talking about. It is to repay the $618M in LTD and to repay the revolver outstanding under BVL.
You just showed how clueless you are. The bonds being tendered with the early redemption premium start at 70cents on the dollar. The 1.5B allows for the bonds to be bought back. The tender lists 2.3B as max consideration meaning if all goes well is to 0.8B of debt will be removed from the books. Bond holders are willingly taking less but are moving up in the bond order of security. Read the filings, google till you understand what they mean. Be informed.
Not additional debt...they are using the proceeds to pay off the $1.5 billion outstanding under BVL. Learn how to read.