Duke Energy Indiana to price 10-year first mortgage bonds

By Mary-Katherine Stinson

Lexington, Ky., Feb. 26 – Duke Energy Indiana, LLC expects to price series BBBB first mortgage bonds due March 1, 2034, according to a 424B5 filed with the Securities and Exchange Commission.

The bonds feature a make-whole call until Dec. 1, 2033 and then are callable at par for the final three months.

BNP Paribas Securities Corp., Citigroup Global Markets Inc., Mizuho Securities USA LLC and TD 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 pay down a portion of the company’s outstanding intercompany short-term debt under a money-pool borrowing arrangement with Duke Energy Corp. and for general company purposes. As of Jan. 31, the company had approximately $511 million of outstanding short-term money-pool borrowings at an annual interest rate of 5.54%.

The electricity provider is based in Plainfield, Ind.

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