Chesapeake Energy Corporation’s High‑Yield Senior Debt Offering

Cravath represented the initial purchasers, led by Deutsche Bank Securities, Bank of America Merrill Lynch, Citigroup and Wells Fargo Securities, in connection with the US$600 million 144A/Reg. S high‑yield senior debt offering of Chesapeake Energy Corporation, a petroleum and natural gas exploration and production company. Cravath also represented the dealer managers in connection with Chesapeake Energy Corporation’s concurrent debt tender offers. The transactions closed on December 20, 2016.

The Cravath team included partner Stephen L. Burns and associates Benjamin S. Persina and Andrew T. Murphy on securities matters; partner Christopher K. Fargo and associate Lingfeng Li on tax matters; and partner Matthew Morreale on environmental matters. Zachary J. Savrick also worked on securities matters.