NewPage to Meet with Lenders

http://www.bloomberg.com/news/print/2012-11-06/chesapeake-raises-rate-on-2-billion-loan-newpage-readies-deal.html

Chesapeake Energy Corp. (CHK) increased the rate it will pay on $2 billion of loans and NewPage Corp., the Cerberus Capital Management LP-owned coated paper maker, set a meeting to discuss an $850 million financing to lead companies in the market for leveraged loans in the U.S. today.
Chesapeake boosted the discount at which it’s selling the debt to 98 cents on the dollar from 99 cents, increasing the yield for investors and reducing proceeds for the borrower, according to data compiled by Bloomberg. NewPage’s bankruptcy exit financing consists of a $500 million, six-year term loan and a $350 million, five-year asset-based revolving line of credit, Bloomberg data show.