By Devika Patel
Knoxville, Tenn., March 6 – Duke Energy Corp. priced $600 million of senior notes (Baa1/BBB+) in two tranches on Wednesday, according to an FWP filed with the Securities and Exchange Commission.
The $300 million tranche of three-year floating-rate notes priced at Libor plus 65 basis points. These notes priced at par.
Duke Energy sold $300 million of three-year 3.227% notes at a spread of Treasuries plus 73 bps. These notes priced at par.
J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. are the bookrunners.
Proceeds will be used to repay commercial paper and for general corporate purposes.
The energy company is based in Charlotte, N.C.
| Issuer: | Duke Energy Corp.
|
| Amount: | $600 million
|
| Description: | Senior floating-rate notes and senior fixed-rate notes
|
| Maturity: | March 11, 2022
|
| Bookrunners: | J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
|
| Co-manager: | KeyBanc Capital Markets Inc.
|
| Trade date: | March 6
|
| Settlement date: | March 11
|
| Ratings: | Moody’s: Baa1
|
| S&P: BBB+
|
| Distribution: | SEC registered
|
|
|
| Floaters
|
| Amount: | $300 million
|
| Coupon: | Libor plus 65 bps
|
| Price: | Par
|
| Yield: | Libor plus 65 bps
|
|
|
| Three-year notes
|
| Amount: | $300 million
|
| Coupon: | 3.227%
|
| Price: | Par
|
| Yield: | 3.227%
|
| Spread: | Treasuries plus 73 bps
|
| Call: | Greater of par call and make-whole call at Treasuries plus 15 bps
|
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