By Andrea Heisinger
New York, Aug. 22 - Duke Energy Corp. sold $500 million of 3.55% 10-year senior notes on Monday at a spread of 145 basis points over Treasuries, an informed source said.
The paper was priced in line with talk in the 145 bps area, he said.
The notes (Baa2/BBB+/BBB) were priced at 99.981 to yield 3.552%.
The securities have a make-whole call at Treasuries plus 25 bps until June 15, 2021 and are then callable at par.
BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. and UBS Securities LLC were the bookrunners.
BNP Paribas Securities Corp. was a co-manager, and CastleOak Securities LP was a junior co-manager.
Proceeds will be used to repay a portion of the company's commercial paper as it matures, to fund capital expenditures in unregulated businesses and for general corporate purposes.
The energy company is based in Charlotte, N.C.
| Issuer: | Duke Energy Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | Sept. 15, 2021
|
| Bookrunners: | BNY Mellon Capital Markets LLC, Citigroup Global Markets Inc., Goldman Sachs & Co., UBS Securities LLC
|
| Co-manager: | BNP Paribas Securities Corp.
|
| Junior co-manager: | CastleOak Securities LP
|
| Coupon: | 3.55%
|
| Price: | 99.981
|
| Yield: | 3.552%
|
| Spread: | Treasuries plus 145 bps
|
| Call: | Make-whole at Treasuries plus 25 bps until June 15, 2021; afterward at par
|
| Trade date: | Aug. 22
|
| Settlement date: | Aug. 25
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
| Fitch: BBB
|
| Price talk: | 145 bps area
|
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