Chesapeake Gets Needed Lifeline From Lenders, But at What Cost?

摘要

Proving the adage that desperate times call for desperate measures, Chesapeake Energy last week bought itself some much-needed time to dig out from its mountain of debt - but not without putting nearly its entire asset base up as collateral. The second-largest US gas producer - which weeks ago was rumored to be near bankruptcy (NGW Feb.15'16) — said it amended its revolving credit facility to ensure that its borrowing base remains unchanged at $4 billion.