Chesapeake Energy 1997 Annual Report Download - page 62

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CHESAPEAKE ENERGY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
3. Notes Payable and Long-Term Debt
Notes payable and long-term debt consist of the following:
June 30,
1997 1996
in thousands)
7.875% Senior Notes (see Note 2)
Discount on 7.875% Senior Notes
8.5% Senior Notes (see Note 2)
Discount on 8.5% Senior Notes
9.125% Senior Notes (see Note 2)
Discount on 9.125% Senior Notes
10.5% Senior Notes (see Note 2)
12% Senior Notes
Discount on 12% Senior Notes
Term note payable to Union Bank collateralized by CGDC, not
guaranteed by the Company, variable interest at Union Bank's base
rate (8.25% per annum at June 30, 1996), or at Eurodollar rate
+1.875% collateralized by CGDC's producing oil and gas properties,
payable in monthly installments through November 2002
Note payable to a vendor, collateralized by oil and gas tubulars,
payments due 60 days from shipment of the tubulars
Note payable to a bank, variable interest at a referenced base rate +
1.75% (10% per annum at June 30, 1996), collateralized by office
buildings, payments due in monthly installments through May 1998
Notes payable to various entities to acquire oil service equipment,
interest varies from 7% to 11% per annum, collateralized by
equipment, payments due in monthly installments through
December 2000
Other collateralized
Other unsecured
Total notes payable and long-term debt
Less Current maturities
Notes payable and long-term debt, net of current maturities
1998
1999
2000
2001
2002
After 2002
45
$1,380
90,000
418,950
$510,330
During the quarter ended December 31, 1996, the Company exercised its covenant defeasance rights with
respect to all of its outstanding $47.5 million of 12% Senior Notes due 2001. A combination of cash and non-
The aggregate scheduled maturities of notes payable and long-term debt for the next five fiscal years
ending June 30, 2002 and thereafter were as follows as of June 30, 1997 (in thousands of dollars):
$150,000 $
(115)
150,000
(862)
120,000 120,000
(73) (81)
90,000 90,000
47,500
(1,772)
12,900
1,380 3,156
680
1,212
1,469
122
510,330 275,186
(1,380) (6,755)
$508,950 $268,431