Chesapeake Utilities secures $450M revolver comprising $200M 5-year and $250M 364-day facilities

CHESAPEAKE UTILITIES CORP

New unsecured credit facility includes $200M 5-Year Revolver maturing Aug 2029 and $250M 364-Day Revolver maturing Aug 2025.
Facility provides $50M sub-limit for green loans on each tranche with reduced interest margins for sustainable investments.
Proceeds to be used for general corporate purposes, including refinancing existing credit agreement, working capital, and capex.
Lenders include PNC, Citizens Bank, M&T Bank, RBC, CoBank, and Barclays; commitment fee 0.175% or less on unused commitments.

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