Piedmont Natural Gas to sell 30-year notes via six bookrunners

By Devika Patel

Knoxville, Tenn., May 18 – Piedmont Natural Gas Co., Inc. intends to offer fixed-rate senior notes due 2050, according a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call until Dec. 1, 2049 and then a par call.

Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, PNC Capital Markets LLC, RBC Capital Markets Corp., SMBC Nikko Securities America Inc. and U.S. Bancorp Investments Inc. are the bookrunners.

Proceeds will be used to pay down short-term debt and for general corporate purposes.

Piedmont is a Charlotte, N.C.-based natural gas distributor.

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