Chesapeake Energy Bonds Plunge to the Lowest Ever as Oil Falls
Chesapeake Bleeds Cash Amid Commodities Tumble
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Debt of Chesapeake Energy Corp. tumbled to a record low on Thursday as the price of oil plunged.
Nine of the energy producer’s unsecured notes plummeted, some losing more than 12 cents on the dollar, as it was the most actively traded company in the junk-debt market. Credit-default swaps, which are used by investors to protect against defaults, rose to the highest ever.