Thomson ReutersMay 13, 2013 10:48
By Jonathan Stempel
(Reuters) - Chesapeake Energy Corp <CHK.N> won the right to redeem $1.3 billion of notes early, as a federal judge rejected an argument by the notes' trustee, Bank of New York Mellon Corp <BK.N>, that the company waited too long to tell investors of its plans.
Chesapeake, the No. 2 U.S. natural gas company, said it intends to refinance the notes, and that Wednesday's decision by U.S. District Judge Paul Engelmayer in Manhattan will save it more than $100 million in interest payments.