Hunton Andrews Kurth Advises Duke Energy Florida, LLC on its Offering of $200 Million Aggregate Principal Amount of Qualified Replacement Property First Mortgage Bonds

Hunton Andrews Kurth LLP advised Duke Energy Florida, LLC (the “Company”) on a SEC-registered offering of $200 million aggregate principal amount of First Mortgage Bonds, Floating Rate Series due 2073. The Company will pay interest on the Bonds quarterly in arrears at a floating rate equal to compounded SOFR minus 0.35%.

The Company, a Florida limited liability company and an indirect wholly-owned subsidiary of Duke Energy Corporation, is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. The Company’s service area covers approximately 13,000 square miles and supplies electric service to 1.9 million residential, commercial and industrial customers. As of December 31, 2022, the Company’s asset portfolio included approximately 10,488 megawatts of owned generation capacity, 48,000 miles of distribution lines and 5,100 miles of transmission lines.

The Hunton Andrews Kurth team included Peter K. O’Brien, Steven C. Friend, Brendan P. Harney, Reuben H. Pearlman and Thomas C. White. Robert McNamara, William Freeman and Drew Hermiller provided tax advice.