Chesapeake Energy Gets $900 Million PIPE

(Reuters) – Korea Investment Corp (KIC) said on Monday it would invest $200 million in Chesapeake Energy Co (CHK.N) as the U.S. No.2 natural gas firm was set to issue a total of $900 million worth of convertible preferred stock.

Along with KIC, China Investment Corp (CIC) and Singapore state investor Temasek Holdings [TEM.UL] would also invest to buy some stakes in Chesapeake, although the exact investment amount was not disclosed, KIC said in a statement. (Reporting by Kim Yeon-hee and Cho Mee-young; Editing by Jacqueline Wong)