By Andrea Heisinger
Omaha, June 11 - Duke Energy Corp. priced $500 million senior notes (Baa2/BBB+) in two tranches, an informed source said.
The $250 million of 5.65% five-year notes priced at 99.803 to yield 5.696%, or Treasuries plus 220 basis points.
The $250 million of 6.25% 10-year notes priced at 99.743 to yield 6.285%, or Treasuries plus 220 bps.
Both tranches have make-whole redemption options of Treasuries plus 40 bps.
Bookrunners were Credit Suisse Securities, Goldman Sachs & Co. and Lehman Brothers Inc.
Co-managers were Citigroup Global Markets Inc., Lazard Capital Markets, Scotia Capital and SunTrust Robinson Humphrey.
Proceeds will be used to redeem a portion or all of commercial paper as it matures, to fund capital expenditures in unregulated businesses and for general corporate purposes.
The electric company is based in Charlotte, N.C.
| Issuer: | Duke Energy Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Bookrunners: | Credit Suisse Securities, Goldman Sachs & Co. and Lehman Brothers Inc.
|
| Co-managers: | Citigroup Global Markets Inc., Lazard Capital Markets, Scotia Capital and SunTrust Robinson Humphrey
|
| Trade date: | June 11
|
| Settlement date: | June 16
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
|
|
| Five-year notes
|
| Amount: | $250 million
|
| Maturity: | June 15, 2013
|
| Coupon: | 5.65%
|
| Price: | 99.803
|
| Yield: | 5.696%
|
| Spread: | Treasuries plus 220 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Price talk: | 220 bps area
|
|
|
| 10-year notes
|
| Amount: | $250 million
|
| Maturity: | June 15, 2018
|
| Coupon: | 6.25%
|
| Price: | 99.743
|
| Yield: | 6.285%
|
| Spread: | Treasuries plus 220 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Price talk: | 220 bps area
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
