Puget Sound Energy plans to price green senior notes due 2053

By Marisa Wong

Los Angeles, May 15 – Puget Sound Energy, Inc. plans to sell fixed-rate senior notes due 2053, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will feature an optional make-whole call, followed by an optional par call.

Scotia Capital (USA) Inc., Barclays, J.P. Morgan Securities LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC are the joint bookrunners.

Scotiabank is also sustainability structuring agent.

U.S. Bank NA is the trustee.

Perkins Coie LLP will be counsel for the issuer. Hunton Andrews Kurth LLP will act as counsel for the underwriters.

Proceeds will be allocated to eligible green projects in the areas of renewable energy, energy efficiency, clean transportation, biodiversity conservation, climate change adaptation, water and wastewater management, pollution prevention and control and green innovation.

Puget Sound Energy is a Bellevue, Wash.-based electric and gas utility.

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