---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-213536"
form_type: "8-K"
ticker: "CPK"
cik: "0000019745"
company_name: "CHESAPEAKE UTILITIES CORP"
filed_at: "2023-08-15T23:59:59+00:00"
generated_at: "2026-06-11T09:43:34.535553+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Chesapeake Utilities amends credit agreement, adds $175M short-term capacity

## Summary
- Second Amendment provides $175M short-term debt capacity under 364-day facility expiring Aug 8, 2024.
- 364-day borrowings priced at SOFR + 10bps + margin up to 1.05%; Green Loan pricing SOFR + 10bps + up to 1.00%.
- Truist ($30M) and City National ($12.5M) exit short-term facility; RBC and Wells Fargo increase commitments to $27.5M each.
- Five-year facility unchanged at $200M; SOFR + 10bps + margin up to 1.25%; Green Loan facility capped at $50M.
- Proceeds used for general corporate purposes, including working capital and sustainable investments.

## SEC filing metadata
- accession: 0001193125-23-213536
- form_type: 8-K
- ticker: CPK
- cik: 0000019745
- company_name: CHESAPEAKE UTILITIES CORP
- filed_at: 2023-08-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/19745/000119312523213536/0001193125-23-213536-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/19745/000119312523213536/d510164d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-213536
- JSON: https://secwatch.observer/filing/0001193125-23-213536.json
- Plain text: https://secwatch.observer/filing/0001193125-23-213536.txt

## Key facts
- Debt Financings
  CHESAPEAKE UTILITIES CORP amended revolving credit of $200 million with PNC Bank, National Association at the SOFR Rate plus a 10-basis point credit spread adjustment and an applicable m maturing expiring on August 8, 2024.
  - Instrument: revolving credit
  - Principal: $200 million
  - Counterparty: PNC Bank, National Association
  - Rate: the SOFR Rate plus a 10-basis point credit spread adjustment and an applicable m
  - Maturity: expiring on August 8, 2024
  - Event: amendment
  source text: (together with PNC, collectively, the “Lenders”), pursuant to which the Lenders committed to provide the Company an unsecured $400 million revolving credit facility, including a $200 million five year facility (the “Five Year Facility”) and a $200 million 364 days facility (the “364 Days Facility” and, together with the Five Year Facility, the “Revolver”), subject to
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523213536/0001193125-23-213536-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.