Chesapeake Energy Corporation’s Exchange Offer

Cravath represented the dealer managers, led by J.P. Morgan Securities, in connection with Chesapeake Energy Corporation’s offer to exchange four series of its registered outstanding senior notes for new unregistered 8.00% Senior Notes due 2026 (the “New Notes”). Chesapeake Energy Corporation is a petroleum and natural gas exploration and production company. The exchange offer expired on April 1, 2019 and settled on April 3, 2019, on which date Chesapeake Energy Corporation issued approximately $918.5 million of New Notes.

The Cravath team included partner Stephen L. Burns and associates Stephanie L. Rowan, Nicholas J. Maida and Ellen H. Park on corporate matters, partner Christopher K. Fargo and associate Joyce Y. Kim on tax matters and partner Matthew Morreale on environmental matters.