Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on an SEC-registered offering of $600 million aggregate principal amount of First Mortgage Bonds, 3.45% Series due 2029. An amount equal to the net proceeds of the offerings will b


Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC on the transaction

Duke Energy Progress, LLC executed its SEC-registered offering of $600 million aggregate principal amount of First Mortgage Bonds, 3.45% Series due 2029. 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 32,000 square miles and supplies electric service to approximately 1.6 million residential, commercial and industrial customers. As of December 31, 2018, the Company’s asset portfolio included approximately 12,747 megawatts of owned generation capacity, 76,500 miles of distribution lines and 6,265 miles of transmission lines.

The Hunton Andrews Kurth team included Pete O’Brien (Picture), Christina Kwon and Brendan P. Harney. Robert J. McNamara provided tax advice.

Involved fees earner: Brendan Harney – Hunton Andrew Kurth; Christina Kwon – Hunton Andrew Kurth; Robert McNamara – Hunton Andrew Kurth; Peter O’Brien – Hunton Andrew Kurth;

Law Firms: Hunton Andrew Kurth;

Clients: Duke Energy Progress, LLC;

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Author: Ambrogio Visconti