Duke Energy Carolinas, LLC’s $1 Billion First Mortgage Bond Offering

Hunton & Williams LLP advised Duke Energy Carolinas, LLC (the “Company”) on an SEC-registered offering of $500 million aggregate principal amount of First and Refunding Mortgage Bonds, 3.05% Series due 2023 and $500 million aggregate principal amount of First and Refunding Mortgage Bonds, 3.95% Series due 2048.

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 & Williams team included Peter O’Brien, Christina Kwon, Andrew Spector and Patrick Jamieson. Cary Tolley and Anna Page provided tax advice.