For all the noise DL makes about AEP being mortgaged to the nines and CHKers should stay away from there, didn't he just did the same thing?!?!? Looks like DL ripped a page out of Aubrey's play book to me.
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Did you not catch that part of this money was to make up for the shortfall in CAPEX or other general corporate purposes? See the last sentence - in the discussion of what the money will be used for. "Chesapeake Energy will issue floating-rate senior notes due 2019, and fixed-rate senior notes maturing in 2022 and 2026. The Oklahoma City-based company will use net proceeds from the record offering to repay an existing unsecured term loan, redeem is note due in 2018, and buy some of its notes due in 2015. The rest of the proceeds will be used for general corporate purposes."
Is easy for a stock to go up (even if it lagged behind its peers like we did this week) when the overall market goes up. Let's see how it does over next month with an overall debt increase of nearly 7 percent in our first year post AKM. A floating rate is cool while interest rates are down. Unfortunately it won't be a year from now when economy is back and rates shoot up exponentially. How is a floating rate guaranteed lower? And back to the wall desperate borrowing to avoid crash isn't a funsie...
Relax people, we borrowed at a lower interest rate to payoff some higher interest debt. U really think the stock would've done so well this week if we borrowed 3 billion for funsies?
Nothing missing. Just 6.57 percent in total debt in 12 months. Plus the latest senior note offering is a floating rate so the end cost is undetermined though likely to hurt quite a bit. Under Amortization we only postponed a short term pain for a much larger and ominous obligation. Kick the can works for Congress....maybe we can be as effective as them soon.
Maybe I'm missing something but I thought we basically refinanced this debt at a lower rate thus saving us a lot of money. Someone please correct me if I'm wrong.
Very true, Doug is the type of guy that loves himself so much that he sucks his own cock and truly believes all the management school textbook jargon bullshit that he and his band of useless drones spew out of their fing mouths on a daily God Damn basis. It's fing pathetic. They truly believe that we'll just eat up everything they say!