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Duke Energy Carolinas sells $900M of mortgage bonds

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Essential Energy Insights - January 2021


Duke Energy Carolinas sells $900M of mortgage bonds

Duke Energy Carolinas LLC closed the sale of $900 million of first and refunding mortgage bonds consisting of $500 million of 2.45% series due 2030 and $400 million of 3.20% series due 2049.

Interest on the 2.45% bonds is payable every Feb. 1 and Aug. 1, beginning Aug. 1, 2020, while interest on the 3.20% bonds is payable every Feb. 15 and Aug. 15, beginning Feb. 15, 2020.

The Duke Energy Corp. subsidiary plans to use the proceeds from the sale to repay at maturity $450 million of its first and refunding mortgage bonds 4.30% series due June 15, 2020, and for general company purposes.

BofA Securities Inc., Citigroup Global Markets Inc., MUFG Securities Americas Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities Americas Inc. and Wells Fargo Securities LLC are the joint book-running managers for the transaction.

Regions Securities LLC and Santander Investment Securities Inc. served as co-managers. Academy Securities Inc., Great Pacific Securities and Samuel A. Ramirez & Co. Inc. served as junior co-managers.