Courtesy: The financial
Investment Thesis
Oklahoma City-based Chesapeake Energy (CHKAQ) and 40 affiliates have voluntarily filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Southern District of Texas on June 28, 2020.
The filing came with a Restructuring Support Agreement ("RSA") deal with 100% of its lenders that carried $925 million in debtor-in-possession financing, which should be enough to keep the company's operations afloat. The filing also involves agreements for a $1.75 billion revolving credit facility and a $750 million term loan for exit financing.
In addition to