Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on an SEC-registered offering of $650 million aggregate principal amount of First Mortgage Bonds, 2.00% Series due 2031 and $450 million aggregate principal amount of First Mortgage Bonds, 2.90% Series due 2051. The transaction closed on August 12, 2021.
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 29,000 square miles and supplies electric service to approximately 1.6 million residential, commercial and industrial customers. As of December 31, 2020, the Company’s asset portfolio included approximately 12,533 megawatts of owned generation capacity, 78,200 miles of distribution lines and 6,300 miles of transmission lines.
The Hunton Andrews Kurth team included Peter K. O’Brien, Brendan P. Harney, S. Ashley Jaber and Reuben Pearlman. Robert McNamara and Tim Strother provided tax advice.
