Chesapeake Utilities Corporation announced on November 4, 2024, that it executed a Note Purchase Agreement on November 1, 2024. Under this agreement, the company issued $100 million in 5.20% Senior Notes due November 1, 2029, to a group of purchasers.
This debt issuance provides Chesapeake Utilities with additional capital to support its ongoing financial and operational objectives. The proceeds from the sale of these Notes are intended for general corporate purposes, which include financing capital expenditures and repaying short-term debt.
The issuance of these Senior Notes is a strategic move to manage the company's capital structure and ensure liquidity for future investments. This financing activity supports Chesapeake Utilities' ability to fund its growth initiatives and maintain a strong balance sheet.
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