By Andrea Heisinger
New York, June 2 - Duke Energy Carolinas, LLC priced $450 million of 4.3% 10-year first and refunding mortgage bonds on Wednesday to yield Treasuries plus 100 basis points, a source away from the sale said.
The notes (A1/A) priced at 99.765 to yield 4.329%. They are callable at a make-whole amount of Treasuries plus 20 bps.
Bookrunners were Barclays Capital Inc. and J.P. Morgan Securities Inc. BBVA Securities Inc., BNY Mellon Capital Markets LLC and Scotia Capital USA Inc. were co-managers.
Junior co-managers were Aladdin Capital LLC and the Williams Capital Group LP.
Proceeds are being used to fund capital expenditures for an ongoing construction program and for general corporate purposes.
The electric subsidiary of Duke Energy Corp. is based in Charlotte, N.C.
| Issuer: | Duke Energy Carolinas, LLC
|
| Issue: | First and refunding mortgage bonds
|
| Amount: | $450 million
|
| Maturity: | June 15, 2020
|
| Bookrunners: | Barclays Capital Inc., J.P. Morgan Securities Inc.
|
| Co-managers: | BBVA Securities Inc., BNY Mellon Capital Markets LLC, Scotia Capital USA Inc.
|
| Junior co-managers: | Aladdin Capital LLC, Williams Capital Group LP
|
| Coupon: | 4.3%
|
| Price: | 99.765
|
| Yield: | 4.329%
|
| Spread: | Treasuries plus 100 bps
|
| Call: | Make-whole at Treasuries plus 20 bps
|
| Trade date: | June 2
|
| Settlement date: | June 7
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
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