Chesapeake Energy Corp, the second-largest U.S. natural gas producer, said on Monday that it had arranged a $1 billion five-year term loan that it would use to buy back senior notes due between 2017 and 2038. Chesapeake shares closed up about 9.5 percent Monday.
The company, whose total debt stood at about $8.68 billion as of June 30, said it had commenced tender offers to buy back $500 million of convertible senior notes due 2037 and 2038.
