By Cristal Cody
Tupelo, Miss., May 13 – Duke Energy Corp. priced $500 million of 2.45% 10-year senior notes (Baa1/BBB+/BBB+) on Wednesday at a spread of Treasuries plus 185 basis points, according to a market source and an FWP filed with the Securities and Exchange Commission.
The notes were initially talked at the Treasuries plus 215 bps area.
The issue was sold at 99.681 to yield 2.486%.
J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC were the bookrunners.
Proceeds will be used to repay some of the borrowings under the company’s three-year revolving credit facility and for general corporate purposes.
The energy company is based in Charlotte, N.C.
| Issuer: | Duke Energy Corp.
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | June 1, 2030
|
| Bookrunners: | J.P. Morgan Securities LLC, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc., TD Securities (USA) LLC and Wells Fargo Securities LLC
|
| Co-managers: | CastleOak Securities, LP and Mischler Financial Group, Inc.
|
| Coupon: | 2.45%
|
| Price: | 99.681
|
| Yield: | 2.486%
|
| Spread: | Treasuries plus 185 bps
|
| Call features: | Make-whole call before March 1, 2030 at price equal to greater of par and Treasuries plus 30 bps; thereafter at par
|
| Trade date: | May 13
|
| Settlement date: | May 15
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price guidance: | Treasuries plus 215 bps area
|
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