Hunton Andrews Kurth LLP Represents Duke Energy Progress in its $900 Million Inaugural Sustainability Bond Offerings

Time 1 Minute Read
March 17, 2022
News

Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on SEC-registered offerings of (i) $500 million aggregate principal amount of its First Mortgage Bonds, 3.40% Series due 2032 and (ii) $400 million aggregate principal amount of its First Mortgage Bonds, 4.00% Series due 2052. The offerings constituted the Company’s inaugural issuance of sustainability bonds. The transaction closed on March 17, 2022.

The Company, a North Carolina 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 North Carolina and South Carolina. The Company’s service area covers approximately 29,000 square miles and supplies electric service to approximately 1.7 million residential, commercial and industrial customers.

The Hunton Andrews Kurth team included Peter K. O’BrienS. Christina KwonBrendan P. Harney and Reuben H. PearlmanRobert McNamara and Tim Strother provided tax advice.

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Lisa Franz
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