By Andrea Heisinger
New York, March 18 - Duke Energy Indiana, Inc. sold $450 million 6.45% 30-year first mortgage bonds Wednesday to yield Treasuries plus 270 basis points, according to an FWP filing with the Securities and Exchange Commission.
The bonds (A3/A/) priced at 99.708 to yield 6.472%.
There is a make-whole call at Treasuries plus 40 bps.
Bookrunners were Barclays Capital Inc., BNP Paribas Securities, Goldman Sachs & Co. and Wachovia Capital Markets LLC.
Co-managers were Bank of New York Mellon Capital Markets, Citigroup Global Markets Inc., RBS Greenwich Capital and Mitsubishi UFJ Securities.
Proceeds will be used to replenish cash used to repay senior notes at maturity March 15, to repay mortgage bonds at maturity July 15, to fund capital expenditures for ongoing construction programs and for general corporate purposes, including repayment of short-term notes.
The electric subsidiary of Duke Energy Corp. is based in Plainfield, Ind.
| Issuer: | Duke Energy Indiana, Inc.
|
| Issue: | First mortgage bonds
|
| Amount: | $450 million
|
| Maturity: | April 1, 2039
|
| Bookrunners: | Barclays Capital Inc., BNP Paribas Securities, Goldman Sachs & Co., Wachovia Capital Markets LLC
|
| Co-managers: | Bank of New York Mellon Capital Markets, Citigroup Global Markets Inc., RBS Greenwich Capital, Mitsubishi UFJ Securities
|
| Coupon: | 6.45%
|
| Price: | 99.708
|
| Yield: | 6.472%
|
| Spread: | Treasuries plus 270 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Trade date: | March 18
|
| Settlement date: | March 23
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
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