Duke Energy Carolinas eyes sale of first and refunding mortgage bonds

By Devika Patel

Knoxville, Tenn., Nov. 14 – Duke Energy Carolinas LLC plans an offering of first and refunding mortgage bonds due Dec. 1, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The bonds have a make-whole call until Sept. 1, 2026 and are callable at par after that.

The bookrunners are BNP Paribas Securities Corp., Goldman Sachs & Co., Mizuho Securities USA Inc. and RBC Capital Markets Corp.

Proceeds will be used to repay $350 million of 1.75% first and refunding mortgage bonds due Dec. 15, 2016 at maturity, for capital expenditures, for ongoing construction, for capital maintenance and for general company purposes.

The Charlotte, N.C.-based company generates, transmits, distributes and sells electricity and is a wholly owned subsidiary of Duke Energy Corp.

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