The Traderszone Network

Published in TZ Latest News 10 July, 2015 by The TZ Newswire Staff

Chesapeake Energy ordered to pay $379.7 million in bond dispute

A U.S. federal judge on Friday ordered Chesapeake Energy Corp to pay $379.7 million to bond investors, after the natural gas company waited too long to tell them of its plan to redeem their $1.3 billion of bonds six years early. U.S. District Judge Paul Engelmayer in Manhattan agreed with bond trustee Bank of New York Mellon Corp that holders of Chesapeake’s 6.775 notes maturing in 2019 were entitled to a special “make-whole” price because of the early redemption.

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