Chesapeake Energy Amends Expiration Date for Tender Offer, Extends Senior Notes Due 2026 Bid Deadline

Chesapeake Energy, an Oklahoma-based corporation, recently made adjustments to the expiration date of its cash tender offer for its outstanding 5.500% senior notes due in 2026. The company, under the legal name of Expand Energy Corporation, disclosed this modification in a press release dated November 21, 2024.

The previously announced expiration date for the company’s cash tender offer for the 5.500% senior notes due in 2026 has been extended to 5:00 p.m., New York City time, on November 27, 2024. This formal amendment was recorded in an Offer to Purchase dated November 20, 2024, and amended on November 21, 2024. The Tender Offer aims to acquire any and all 5.500% senior notes due in 2026, unless extended or terminated earlier.

The Guaranteed Delivery Time for this offer has also been amended to 5:00 p.m., New York City time, on December 2, 2024. The specific details concerning the 2026 notes and the terms of the offer are outlined in the company’s statements.

Holders of the 2026 notes are allowed to withdraw their offers before the Expiration Time, or if the Tender Offer is extended, within the 10th business day following the commencement of the offer. Additionally, tendered notes can be withdrawn after the 60th business day post the Tender Offer’s initiation if the offer is yet to be settled.

The consideration for each $1,000 principal amount of the 2026 notes accepted under the Tender Offer will be determined based on the fixed spread for the notes plus the yield from the U.S. Treasury Reference Security price quoted on a specific date. Holders who successfully tender their notes will also receive accrued and unpaid interest up to the settlement date, which the company anticipates to be December 3, 2024.

J.P. Morgan Securities LLC and TD Securities (USA) LLC are the appointed dealer managers for this Tender Offer. Holders seeking more information about the offer can reach the Dealer Managers at the provided contact numbers.

The company also noted that the Tender Offer does not constitute an offer to sell or a solicitation to buy, and no sale of securities shall be made based on this press release alone. Interested parties are advised to refer directly to the official Offer to Purchase for comprehensive details.

Chesapeake Energy, under the trading symbol EXE, remains dedicated to expanding energy provision responsibly and striving for sustainable value creation in the energy sector.

This article summarizes the recent adjustments made by Chesapeake Energy Corporation and its ongoing Tender Offer for the 5.500% senior notes due in 2026. Investors are encouraged to conduct due diligence and refer to the official documents for a comprehensive understanding of the terms and conditions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Chesapeake Energy’s 8K filing here.

Chesapeake Energy Company Profile

Chesapeake Energy Corp. is an independent exploration and production company, which engages in acquisition, exploration and development of properties for the production of oil, natural gas and natural gas liquids from underground reservoirs. It focuses on projects located in Louisiana, Ohio, Oklahoma, Pennsylvania, Texas, and Wyoming.