This excerpt taken from the CHK 8-K filed Nov 1, 2005.
In January 2005 the Company entered into a new syndicated loan managed by Bank of America and refinanced the debt previously held with Fleet Bank. Under the terms of the new debt instrument, the Company obtained a credit facility of $1.25 billion with a borrowing base of $850 million for a period of five years. Under the provisions of the new debt instrument, interest is to be determined according to a market-indexed rate at time of draw, plus 225 basis points. The loan is collateralized with virtually all of the Companys assets. As of September 30, 2005, $775 million had been borrowed against this line. In conjunction with the debt refinancing, the Company wrote off in January 2005, $9.2 million of unamortized financing cost related to the previous Fleet debt instrument.