Duke Energy Indiana to price 30-year first mortgage bonds

By William Gullotti

Buffalo, N.Y., March 21 – Duke Energy Indiana, LLC expects to price series AAAA first mortgage bonds due April 1, 2053, according to a 424B5 filed with the Securities and Exchange Commission.

The bonds feature a make-whole call until Oct. 1, 2052 and then are callable at par.

BofA Securities, Inc., Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc., TD Securities (USA) LLC, Truist Securities, Inc., Credit Suisse Securities (USA) LLC and Mizuho Securities USA LLC are the joint bookrunning managers for the offering.

Deutsche Bank National Trust Co. is the trustee.

Hunton Andrews Kurth LLP and in-house counsel will advise Duke Energy. Sidley Austin LLP is counsel to the underwriters.

Proceeds will be used to repay the company’s $300 million term loan due October 2023, to pay down a portion of outstanding intercompany short-term debt and for general corporate purposes. As of Jan. 31, there were $698.6 million of outstanding short-term money-pool borrowings at an annual interest rate of 4.65%.

The electricity provider is based in Plainfield, Ind.

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