Chesapeake (CHK -3.9%) reportedly increased the size of the $3B bridge loan it’s seeking to...

|About: Chesapeake Energy Corporation (CHK)|By:, SA News Editor

Chesapeake (CHK -3.9%) reportedly increased the size of the $3B bridge loan it’s seeking to refinance debt to $4B; the debt will now be sold at $0.97 on the dollar, up from $0.96, increasing proceeds for the company and reducing the yield to investors. Earlier today, S&P cut CHK's credit rating to BB- from BB.