By Andrea Heisinger
New York, March 18 - Duke Energy Ohio, Inc. priced $450 million 5.45% 10-year first mortgage bonds Wednesday to yield Treasuries plus 250 basis points, according to an FWP filing with the Securities and Exchange Commission.
The bonds (A3/A/) priced at 99.96 to yield 5.455%.
There is a make-whole call at Treasuries plus 40 bps.
Bookrunners were Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust Robinson Humphrey and UBS Investment Bank.
Co-managers were Banca IMI and Scotia Capital.
Proceeds will be used to repay short-term notes and for general corporate purposes, including funding capital expenditures.
The electric subsidiary of Duke Energy Corp. is based in Cincinnati.
| Issuer: | Duke Energy Ohio, Inc.
|
| Issue: | First mortgage bonds
|
| Amount: | $450 million
|
| Maturity: | April 1, 2019
|
| Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust Robinson Humphrey, UBS Investment Bank
|
| Co-managers: | Banca IMI, Scotia Capital
|
| Coupon: | 5.45%
|
| Price: | 99.96
|
| Yield: | 5.455%
|
| Spread: | Treasuries plus 250 bps
|
| Call: | Make-whole at Treasuries plus 40 bps
|
| Trade date: | March 18
|
| Settlement date: | March 24
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A
|
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