SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported)
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February 28, 2003 (February 28, 2003)
CHESAPEAKE ENERGY CORPORATION
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(Exact name of Registrant as specified in its Charter)
Oklahoma 1-13726 73-1395733
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(State or other jurisdiction (Commission File No.) (IRS Employer
of incorporation) Identification No.)
6100 North Western Avenue, Oklahoma City, Oklahoma 73118
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(Address of principal executive offices) (Zip Code)
(405) 848-8000
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(Registrant's telephone number, including area code)
INFORMATION TO BE INCLUDED IN THE REPORT
ITEM 5. OTHER EVENTS
CHESAPEAKE ENERGY CORPORATION ANNOUNCES PRICING
OF $300 MILLION OF 7.5% SENIOR NOTES DUE 2013
OKLAHOMA CITY, OKLAHOMA, FEBRUARY 28, 2003 - Chesapeake Energy Corporation
(NYSE:CHK) today announced that it has priced a private offering of $300 million
of senior notes due September 15, 2013, which will carry an interest rate of
7.5%. The senior notes were priced at 99.102% to yield 7.625%. The senior notes
being sold by Chesapeake will not be registered under the Securities Act of 1933
and may not be offered or sold in the United States absent registration or an
applicable exemption from registration requirements. The senior notes will be
eligible for trading under Rule 144A.
Closing of the senior notes offering is expected to occur on March 5, 2003, and
is subject to satisfaction of customary closing conditions. Chesapeake intends
to use the net proceeds of the offering to finance, in part, the pending
acquisitions of Mid-Continent natural gas properties from the El Paso
Corporation and Vintage Petroleum, Inc., which are scheduled to close in March
2003, and to repay amounts outstanding under our revolving bank credit facility.
In the event the El Paso and Vintage acquisitions are not consummated, proceeds
will be used for general corporate purposes, including other possible future
acquisitions.
This announcement shall not constitute an offer to sell or a solicitation of an
offer to buy. This document contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. Forward-looking statements include estimates
and give our current expectations or forecasts of future events. Although we
believe our forward-looking statements are reasonable, they can be affected by
inaccurate assumptions or by known or unknown risks and uncertainties.
Chesapeake Energy Corporation is one of the ten largest independent natural gas
producers in the U.S. Headquartered in Oklahoma City, the company's operations
are focused on exploratory and developmental drilling and producing property
acquisitions in the Mid-Continent region of the United States. The company's
Internet address is www.chkenergy.com.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CHESAPEAKE ENERGY CORPORATION
By: /s/ Aubrey K. McClendon
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Aubrey K. McClendon
Chairman of the Board and
Chief Executive Officer
Dated: February 28, 2003
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