Deals
Chesapeake Takes $3 Billion Goldman Loan to Ease Cash Crunch
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Chesapeake Energy Corp. reached a $3 billion loan agreement with a unit of Goldman Sachs Group Inc. and affiliates of Jefferies Group Inc. to help ease a cash shortfall that threatens to curtail its development of oil and natural-gas wells.
Chesapeake will repay the short-term loan with part of the proceeds from as much as $11.5 billion in asset sales it plans for the remainder of the year, the company said in a statement late today.