Chesapeake will save $100 million in interest charges on the notes after redeeming them at par and refinancing the debt.
In the great scheme of Chesapeake’s efforts to reduce its debt burden, $100 million is not a huge amount, but the company needs every dime it can raise. Today’s ruling inches Chesapeake nearer to its debt-reduction goal.
Shares of Chesapeake are trading up 1.2% to $19.35 in the first half-hour of trading this morning, in a 52-week range of $13.32 to $22.97.
Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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