Chesapeake Raises Debt, Rating Is Cut
Chesapeake Energy Corporation (NYSE:CHK) increased the size of the unsecured term loan from Goldman Sachs Bank USA and affiliates of Jefferies Group, Inc to $4 billion from $3 billion, for paying down its revolving credit line. Chesapeake − the second largest U.S. gas producer after ExxonMobil Corporation (NYSE:XOM) − faces a funding gap of $9 [...]
Chesapeake Energy Corporation (NYSE:CHK) increased the size of the unsecured term loan from Goldman Sachs Bank USA and affiliates of Jefferies Group, Inc to $4 billion from $3 billion, for paying down its revolving credit line.
Chesapeake − the second largest U.S. gas producer after ExxonMobil Corporation (NYSE:XOM) − faces a funding gap of $9 billion to $10 billion as natural gas prices hit a 10-year low early this year. The new loan comes at an initial interest rate of 8.5%, which could … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards