By Andrea Heisinger
New York, June 10 - Duke Energy Corp. tapped Monday's market for an upsized $500 million of 2.1% five-year senior notes (Baa2/BBB/BBB+) priced at Treasuries plus 100 basis points, according to a market source and an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.891 to yield 2.123%.
There is a make-whole call at 15 bps over Treasuries until May 15, 2018 and a par call after that date.
Goldman Sachs & Co., Mizuho Securities USA Inc. and RBC Capital Markets LLC were the bookrunners.
Proceeds will be used to repay at maturity $250 million of 5.65% senior notes due June 15 and for general corporate purposes, including repayment of outstanding commercial paper.
The diversified energy company is based in Charlotte, N.C.
| Issuer: | Duke Energy Corp.
|
| Issue: | Senior notes
|
| Amount: | $500 million, upsized from $350 million
|
| Maturity: | June 15, 2018
|
| Bookrunners: | Goldman Sachs & Co., Mizuho Securities USA Inc., RBC Capital Markets LLC
|
| Co-managers: | BBVA Securities Inc., Santander Investment Securities Inc.
|
| Coupon: | 2.1%
|
| Price: | 99.891
|
| Yield: | 2.123%
|
| Spread: | Treasuries plus 100 bps
|
| Call: | Make-whole at Treasuries plus 15 bps until May 15, 2018, par call after
|
| Trade date: | June 10
|
| Settlement date: | June 13
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Fitch: BBB+
|
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