Duke Energy Carolinas, LLC’s $1 Billion Green Bonds Offering

Hunton Andrews Kurth LLP advised Duke Energy Carolinas, LLC on an SEC-registered offering of $350 million aggregate principal amount of First and Refunding Mortgage Bonds, 3.35% Series due 2022 and $650 million aggregate principal amount of First and Refunding Mortgage Bonds, 3.95% Series due 2028.

An amount equal to the net proceeds of the offerings will be used by the Company to pay or reimburse the payment of, in whole or in part, existing and new eligible green expenditures in the United States

The Company, an indirect wholly owned subsidiary of Duke Energy Corporation, generates, transmits, distributes and sells electricity in portions of North Carolina and South Carolina. The Company’s service area covers approximately 24,000 square miles and supplies electric service to 2.5 million residential, commercial and industrial customers. As of December 31, 2017, the Company’s asset portfolio included approximately 19,568 megawatts of owned generation capacity, 104,400 miles of distribution lines and 13,100 miles of transmission lines.

The Hunton Andrews Kurth team included Peter O’Brien (Picture), Christina Kwon and Brendan P. Harney. Cary Tolley, Anna Page and Kimberly Nolte provided tax advice.

Involved fees earner: Brendan Harney – Hunton Andrew Kurth; Anna Knecht Page – Hunton Andrew Kurth; Christina Kwon – Hunton Andrew Kurth; Peter O’Brien – Hunton Andrew Kurth; Cary Tolley – Hunton Andrew Kurth;

Law Firms: Hunton Andrew Kurth;

Clients: Duke Energy Carolinas, LLC;


Author: Ambrogio Visconti