From artical dated today...

From artical dated today
http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=CHK×tamp=20110207120000

'Chesapeake plans to use the net proceeds from these sales and its previously announced Niobrara joint venture to retire approximately $2.0 - $3.0 billion of its shorter-dated senior notes and to also reduce borrowings under its revolving bank credit facility.'

Would a 'short dated senior note' include the promisory note to AZZ?? If so does this mean AZZ wont recieve the cash till Chesa gets paid for its asset sales? And in turn does that mean no purchase till AZZ gets paid? I still dont understand this note thing. Spose AZZ can still purchase a new asset with condition that they dont have to pay for it till Chesa pays them. Bit like buying a house with the clause you have to get the sale procedes from your old house at xxdate???