Chesapeake Utilities gets HSR clearance, expects FCG acquisition close in Q4 2023

CHESAPEAKE UTILITIES CORP

Hart-Scott-Rodino waiting period expired Nov 6, 2023; regulatory financing approvals received.
Acquisition of Florida City Gas for ~$923.4M cash expected to close Q4 2023.
Plans to issue ~$550M senior notes with weighted avg interest rate of 6.54%.
Notes: $100M each for 3, 4, 5, 7, and 10-year terms, plus $50M 15-year/10-year avg term.

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