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Chesapeake's (CHK -2%) bond case will get a speedy resolution, as a judge sets an April 23 trial...

Chesapeake's (CHK -2%) bond case will get a speedy resolution, as a judge sets an April 23 trial date to settle a dispute with bondholders over a redemption it’s attempting. CHK wants to redeem bonds set to mature in 2019 but contain a provision that allows it to redeem them at par up to March 15, 2013. One bondholder sees a slim chance for settlement at some premium over the bonds’ current trading price of 105.
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Comments (2)
  • victorgtz1
    , contributor
    Comment (1) | Send Message
     
    if i have 100k bonds, what would be the redemption amount/price breakdown (including the make-whole @ 50bps premium) ?
    20 Mar 2013, 02:32 PM Reply Like
  • what do I know
    , contributor
    Comments (1049) | Send Message
     
    If the bond had a provision that lets CHK pay those bond holders 100 for 100 of bond why it has to go court, the bond has those provision and the bond holders know that. Probably, there is more to the story, as BNY-Malone are the bond holders.
    20 Mar 2013, 03:42 PM Reply Like
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