Investing
Chesapeake Energy Wins Court Ruling on Bond Redemption
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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.
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