8-K
filed November 21, 2023, 6:59 PM ET
ticker CPK
CIK 0000019745
debt
confidence high
sentiment neutral
materiality 0.60
CHESAPEAKE UTILITIES CORP (CPK): debt financing — Chesapeake Utilities enters $550M note purchase agreement to fund Florida City Gas acquisition
CHESAPEAKE UTILITIES CORP
- $550M principal of senior notes issued in six series with maturities 2026-2038 and interest rates 6.39%-6.73%.
- Proceeds will fund $923.4M cash acquisition of Pivotal Utility Holdings (Florida City Gas) from FPL.
- Acquisition expected to close in Q4 2023, subject to customary conditions.
- Notes are uncollateralized; covenants limit additional debt and liens.
- Interest payable semiannually; mandatory prepayments on Series F notes from 2029.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CHESAPEAKE UTILITIES CORP incurred senior notes of $100,000,000 aggregate principal amount of 6.45% Series 2023-C Senior Notes due December 28, 2028 at 6.45% maturing December 28, 2028.
- Instrument
- senior notes
- Principal
- $100,000,000 aggregate principal amount of 6.45% Series 2023-C Senior Notes due December 28, 2028
- Rate
- 6.45%
- Maturity
- December 28, 2028
- Event
- incurrence
Exact text from the filing
$100,000,000 aggregate principal amount of 6.45% Series 2023-C Senior Notes due December 28, 2028
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CHESAPEAKE UTILITIES CORP incurred senior notes of $100,000,000 aggregate principal amount of 6.62% Series 2023-D Senior Notes due December 28, 2030 at 6.62% maturing December 28, 2030.
- Instrument
- senior notes
- Principal
- $100,000,000 aggregate principal amount of 6.62% Series 2023-D Senior Notes due December 28, 2030
- Rate
- 6.62%
- Maturity
- December 28, 2030
- Event
- incurrence
Exact text from the filing
$100,000,000 aggregate principal amount of 6.62% Series 2023-D Senior Notes due December 28, 2030
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CHESAPEAKE UTILITIES CORP incurred senior notes of $100,000,000 aggregate principal amount of 6.44% Series 2023-B Senior Notes due December 28, 2027 at 6.44% maturing December 28, 2027.
- Instrument
- senior notes
- Principal
- $100,000,000 aggregate principal amount of 6.44% Series 2023-B Senior Notes due December 28, 2027
- Rate
- 6.44%
- Maturity
- December 28, 2027
- Event
- incurrence
Exact text from the filing
$100,000,000 aggregate principal amount of 6.44% Series 2023-B Senior Notes due December 28, 2027
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CHESAPEAKE UTILITIES CORP incurred senior notes of $100,000,000 aggregate principal amount of 6.39% Series 2023-A Senior Notes due December 28, 2026 at 6.39% maturing December 28, 2026.
- Instrument
- senior notes
- Principal
- $100,000,000 aggregate principal amount of 6.39% Series 2023-A Senior Notes due December 28, 2026
- Rate
- 6.39%
- Maturity
- December 28, 2026
- Event
- incurrence
Exact text from the filing
$100,000,000 aggregate principal amount of 6.39% Series 2023-A Senior Notes due December 28, 2026
View on SEC.gov
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
CHESAPEAKE UTILITIES CORP incurred senior notes of $550 million principal amount of uncollateralized senior notes with the purchasers listed in Schedule B thereto (collectively, the "Purchasers").
- Instrument
- senior notes
- Principal
- $550 million principal amount of uncollateralized senior notes
- Counterparty
- the purchasers listed in Schedule B thereto (collectively, the "Purchasers")
- Event
- incurrence
Exact text from the filing
The Company will fund the purchase price of the Acquisition with the net proceeds of an equity offering and from the issuance of approximately $550 million principal amount of uncollateralized senior notes (the “New Notes”) pursuant to the Note Purchase Agreement
View on SEC.gov
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