Chesapeake Energy Corp (CHK.N) said on Monday it planned to raise $5 billion by selling stakes in assets and issuing debt and stock in a bid to pay down borrowings and increase its production levels.Chesapeake said in a separate statement it has placed $600 million of non-voting convertible preferred stock with a unit of Singapore state investor Temasek Holdings [TEM.UL] and Chinese private equity firm Hopu.
Temasek and Hopu have also been given the option to place another $500 million worth of Chesapeake preferred stock, which carry a coupon of 5.75 percent, with other investors in Asia. Full Story
Related:
Chesapeake Energy Corporation Announces Private Placement of $600 Million of 5.75% Cumulative Non-Voting Convertible Preferred Stock with Two Investors in Asia - MarketWatch
Chesapeake Energy Announces Strategic And Financial Plan To Lift Shareholder Value And Reduce Debt; Reveals $600 Mln Private Placement - RTTNews
Temasek to Invest $500 Million in Chesapeake Energy Offering - BusinessWeek
