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Strategies & Market Trends : Turnarund Investing

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Aug 1 5:00 PM EST

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To: Covenant who wrote (1123)	5/12/2012 4:09:14 PM
From: KirbyJF1	Read Replies (1) of 1876

Covenant- Nice work on CHK***Chesapeake wins breathing space with $3 billion loan Chesapeake Energy Corp said it had received a $3 billion loan from Goldman Sachs and Jeffries Group that will give it breathing room to sell assets and close a funding gap this year. The company, which has been embroiled in a corporate governance crisis that prompted its move to replace co-founder Aubrey McClendon as chairman, said the new unsecured loan will be used to repay money borrowed under its existing $4 billion revolving credit facility. "This short-term loan from Goldman and Jefferies provides us with significant additional financial flexibility as we execute our asset sales during the remainder of 2012," McClendon, who will remain as chief executive officer, said in a statement. finance.yahoo.com Kirby

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