Chesapeake Energy to sell $500 million notes due 2015 on Wednesday

By Paul A. Harris

St. Louis, Jan. 27 - Chesapeake Energy Corp. is expected to price a $500 million issue of senior notes due 2015 on Wednesday following an investor conference call, according to an informed source.

Deutsche Bank Securities Inc., Banc of America Securities LLC, Credit Suisse, Goldman, Sachs & Co., Morgan Stanley & Co. Inc. and Wachovia Securities LLC are joint bookrunners for the off-the-shelf offering.

Proceeds will be used to repay revolver debt, which the company anticipates reborrowing from time to time to fund drilling leasehold acquisition initiatives, and for general corporate purposes.

The prospective issuer is an Oklahoma City-based independent producer of natural gas.

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