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Chesapeake Energy Gets $1.25B in Cash for “Convertible” IOUs | Marcellus Drilling News
On Wednesday Chesapeake Energy issued an announcement to crow about "significant improvements in its capital structure following recent transactions." The improvements came as a result of Chessy striking a deal to get $1.25 billion in cash from selling unsecure (nothing to back it) convertible notes--i.e. IOUs. Chesapeake handed people a piece of paper saying they