Hunton Andrews Kurth Represents Duke Energy Carolinas, LLC in its $1 Billion First Mortgage Bonds Offerings

Hunton Andrews Kurth LLP advised Duke Energy Carolinas, LLC (the “Company”) on SEC-registered offerings of (i) $575 million aggregate principal amount of First and Refunding Mortgage Bonds, 4.85 % Series due 2034 and (ii) $425 million aggregate principal amount of First and Refunding Mortgage Bonds, 5.40% Series due 2054. The $425 million issuance of the 5.40% Series due 2054 constituted a reopening of the 5.40% Series due 2054 originally issued on June 15, 2023. The transaction closed on January 5, 2024.

The Company, a North Carolina limited liability company and a 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 North Carolina and South Carolina. The Company’s service area covers approximately 24,000 square miles and supplies electric service to approximately 2.8 million residential, commercial and industrial customers. As of December 31, 2022, the Company’s asset portfolio included approximately 19,492 megawatts of owned generation capacity, 108,500 miles of distribution lines and 13,000 miles of transmission lines.

The Hunton Andrews Kurth team included Peter K. O’Brien, Brendan P. Harney, Reuben H. Pearlman and Monika M. Dziewa. Robert McNamara, William Freeman and Caitlin A. Scipioni provided tax advice.