---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-280904"
form_type: "8-K"
ticker: "CPK"
cik: "0000019745"
company_name: "CHESAPEAKE UTILITIES CORP"
filed_at: "2023-11-21T23:59:59+00:00"
generated_at: "2026-06-07T22:55:58.390262+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Chesapeake Utilities enters $550M note purchase agreement to fund Florida City Gas acquisition

## Summary
- $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.

## SEC filing metadata
- accession: 0001193125-23-280904
- form_type: 8-K
- ticker: CPK
- cik: 0000019745
- company_name: CHESAPEAKE UTILITIES CORP
- filed_at: 2023-11-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/0001193125-23-280904-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/d476278d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-280904
- JSON: https://secwatch.observer/filing/0001193125-23-280904.json
- Plain text: https://secwatch.observer/filing/0001193125-23-280904.txt

## Key facts
- Debt Financings
  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
  source text: $100,000,000 aggregate principal amount of 6.45% Series 2023-C Senior Notes due December 28, 2028
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/0001193125-23-280904-index.htm
- Debt Financings
  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
  source text: $100,000,000 aggregate principal amount of 6.62% Series 2023-D Senior Notes due December 28, 2030
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/0001193125-23-280904-index.htm
- Debt Financings
  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
  source text: $100,000,000 aggregate principal amount of 6.44% Series 2023-B Senior Notes due December 28, 2027
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/0001193125-23-280904-index.htm
- Debt Financings
  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
  source text: $100,000,000 aggregate principal amount of 6.39% Series 2023-A Senior Notes due December 28, 2026
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/0001193125-23-280904-index.htm
- Debt Financings
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/19745/000119312523280904/0001193125-23-280904-index.htm

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