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Group buys former Armour meatpacking site in Stockyards

The 16.8-acre site of the historic, former Armour meatpacking plant in Fort Worth’s Stockyards has changed hands, and its new owners aren’t saying anything about their plans. Chesapeake Land Development Co., which bought the site

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Fresh Ebola fears hit airline stocks

DALLAS (AP) — News that a nurse diagnosed with Ebola flew on a plane full of passengers raised fear among airline investors that the scare over the virus could cause travelers to avoid flying.

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Social House Fort Worth plans to open mid-November

Social House has leased 5,045 square feet at 2801-2873 W Seventh St. in Fort Worth, according to Xceligent Inc.

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Ski Grand Prairie? TCU, UTA grad helping bring snow to Metroplex

For Levi Davis last week may have been a career peak, in more ways than one.

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GE rises most in year with equipment order increases, including at Fort Worth locomotive unit

NEW YORK — General Electric Co. beat analysts' profit estimates in the third quarter as Chief Executive Officer Jeffrey Immelt squeezed more costs from the manufacturing units.

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Chesapeake Energy wins court case, announces bond redemption

 

A. Lee Graham
Reporter

Chesapeake Energy Corp. has announced that the U.S. District Court for the Southern District of New York has ruled in its favor, enabling the company to redeem $1.3 billion of 6.8 percent senior notes due 2019.
The decision, announced on May 8, comes after the company initiated the legal action against The Bank of New York Mellon Trust Co. NA, the trustee of the notes, on March 8, 2013.
“We are pleased that the court has ruled in Chesapeake’s favor,” said Domenic J. Dell’Osso Jr., Chesapeake’s chief financial officer, commenting in a news release.
By refinancing the notes, the company expects to save more than $100 million in interest payments, Dell’Osso said.
Following a bench trial, the Hon. Paul A. Engelmayer ruled that Chesapeake’s notice to redeem the notes at par, which was provided on March 15, 2013, was timely and effective pursuant to the special early redemption provision of the notes.
With that, Chesapeake said it will proceed with special early redemption of the notes, with payment expected to be made on May 13, 2013 pursuant to the terms of the notice. The redemption is part of a broader refinancing of Chesapeake’s outstanding debt obligations, the company said.
Chesapeake Energy Corp., the second-largest natural gas producer behind Irving-based Exxon Mobil Corp. and whose interests include North Texas’ Barnett Shale, focuses on discovering and developing unconventional natural gas and oil fields onshore in the U.S. More information is available at www.chk.com.
 

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