Oklahoma City-based Chesapeake Energy reports the results to date of its pending cash tender offers for its outstanding notes. As a result, it has increased the tender cap for Notes maturing during and after 2019 from $250,000,000 aggregate purchase price to $325,000,000 and together w3ith the $400,000,000 tender cap for Notes maturing prior to 2019.
The Tender Offers will expire at 11:59 p.m., New York City time, on September 12, 2016 (such date and time with respect to a Tender Offer, as it may be extended for such Tender Offer, the “Expiration Date”). No tenders will be valid if submitted after the Expiration Date. The deadline for holders to validly withdraw tenders of Notes has passed. Accordingly, Notes that were already tendered at the Early Tender Date and any additional Notes that are tendered at or prior to the Expiration Date may not be withdrawn, except in certain limited circumstances where additional withdrawal rights are required by law.
The Company also announced that, as a result of the consummation of its secured five-year term loan in an aggregate principal amount of $1.5 billion, the Financing Condition (as defined in the Offer to Purchase) with respect to the Tender Offers has been satisfied.