Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on an SEC-registered offering of $300 million aggregate principal amount of first mortgage bonds, 3.375% Series due 2023 and $500 million aggregate principal amount of first mortgage bonds, 3.700% Series due 2028.
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 1.5 million residential, commercial and industrial customers. As of December 31, 2017, the Company’s asset portfolio included approximately 12,809 megawatts of owned generation capacity, 75,800 miles of distribution lines and 6,200 miles of transmission lines.
The Hunton Andrews Kurth team included Pete O’Brien, Christina Kwon and Brendan P. Harney. Cary Tolley and Kimberly Nolte provided tax advice.
