The latest announcement is out from Chesapeake Energy ( (CHK) ).
Amidst a dynamic merger, a leading energy company has successfully taken on the role of successor issuer for a substantial portfolio of senior notes, originally issued by Southwestern, with maturities ranging from 2025 to 2032 and interest rates between 4.750% and 8.375%. In the process, the company has also assumed related obligations and guarantees. Following the merger, the company’s common shares underwent a transformation, with Southwestern stockholders receiving a proportional exchange of shares in the newly formed entity. Additionally, the merger prompted a reshuffle in the board of directors, introducing four new members from Southwestern’s previous board. Concurrently, the company announced a significant rebranding, adopting the name “Expand Energy Corporation,” and unveiled plans to commence trading under a new ticker symbol. The corporate shake-up further extends to executive appointments, with new legal leadership stepping in, while the company looks forward to sharing its operational and financial results post-merger, alongside its forthcoming capital and operational strategy.
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