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SELECTED TRANSACTION DETAILS
MUFG Union Bank Agents Syndicated $3.8B Credit Facility for Chesapeake Energy
Thursday, September 13, 2018

Lenders/Participants MUFG Union Bank, N.A [Administrative Agent, Co-Syndication Agent, Swing Line Lender, L/C Issuer, Joint Lead Arranger, Joint Bookrunner]
Wells Fargo Bank [Co-Syndication Agent, Swing Line Lender, L/C Issuer]
JPMorgan Chase Bank [Co-Syndication Agent, Swing Line Lender, L/C Issuer, Joint Lead Arranger, Joint Bookrunner]
Merrill Lynch [Joint Lead Arranger, Joint Bookrunner]
BMO Capital Markets [Joint Lead Arranger, Joint Bookrunner]
CitiCorp [Joint Lead Arranger, Joint Bookrunner]
Credit Agricole Corporate and Investment Bank [Joint Lead Arranger, Joint Bookrunner]
Mizuho Bank [Joint Lead Arranger, Joint Bookrunner]
Royal Bank of Canada [Joint Lead Arranger, Joint Bookrunner]
Structure Senior Secured Revolver
Amount $3.800 Billion
Borrower(s) Chesapeake Energy Corporation
Description Company will use the funds for working capital general purposes. The company amended and restated its senior secured revolving credit facility agreement. The amended and restated facility received initial commitments from 15 institutions totaling $3.8 billion, which exceeded the $3.0 billion borrowing base the company was seeking. The initial borrowing base does not include any properties being sold in the company's $2.0 billion Utica Shale transaction expected to close in the fourth quarter of 2018, thus the borrowing base will not be affected when the transaction closes. The credit facility will mature in September 2023.
Industry Energy
Related Tags BMO Capital Markets, CitiCorp, Credit Agricole Corporate and Investment Bank, JPMorgan Chase Bank, Merrill Lynch, Mizuho Bank, MUFG Union Bank, Royal Bank of Canada, Wells Fargo Bank, Wells Fargo Securities




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