Aug. 16th, 2016

Our client Phil Adams quoted in this story:

While the loan isn’t underwritten, being instead arranged by the three banks, “we suspect the tender would not have been announced if Chesapeake Energy and banks lacked confidence in their ability to syndicate the loan,” Phil Adams, senior analyst at Gimme Credit, an independent research service on corporate bonds, wrote today in a note.

The new loan should fund this payment, as well as the tender, and leave some left over for Chesapeake, according to Gimme Credit’s Adams.

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