Chesapeake Working to Refinance Debt

摘要

In a move that effectively swaps out one debt for another, Chesapeake Energy said Monday it is working with several large banks to secure a five - year, $1 billion loan it will use to refinance some short - term obligations. Chesapeake -- which has been chipping away at a debt load that now stands at $8.7 billion ( OD Aug.5'16 ) -- has engaged Goldman Sachs, Citigroup Global Markets and MUFG to assist with arranging the loan, which would go toward repurchasing about $500 million worth of its notes.