Chesapeake swaps debt for equity for second time in May

Thomson Reuters To match Special Report CHESAPEAKE-MCCLENDON/LOANS

(Reuters) – Chesapeake Energy Corp , the second-largest U.S. natural gas producer, said it had issued or agreed to issue about 5 percent of its outstanding shares in exchange for debt over the past week. (http://bit.ly/1YTaWw7)

The disclosure made in a regulatory filing on Monday comes less than a fortnight after the debt-laden company said it had swapped debt for about 4 percent of its equity earlier this month.

(Reporting by Swetha Gopinath in Bengaluru; Editing by Sriraj Kalluvila)

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