Chesapeake Gets $4B Line of Credit Refinanced Extra 5 Yrs

With numbers that are really too large to get your head around, Chesapeake Energy announced yesterday that their creditors have agreed to give them another five years to pay back $4 billion–and the deal will allow them to borrow up to another $1 billion along the way! To be fair, it is an “unsecured revolving credit facility.” That is, a line a credit. Write a check and if you haven’t borrowed up to the maximum, the check will clear. The announcement does not say how much of that $4 billion, originally due in December 2015, has been used and how much is left to be used. Here’s what Chessy did say yesterday:

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