Duke Energy Florida intends to conduct two-tranche offering of notes

By Devika Patel

Knoxville, Tenn., Jan. 3 – Duke Energy Florida, LLC intends to offer first mortgage bonds in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be due on Jan. 15, 2020 and Jan. 15, 2027. The bonds will not have the benefit of any sinking fund or a special redemption by operation of a sinking fund.

BofA Merrill Lynch, Scotia Capital (USA) Inc., TD Securities (USA) LLC, UBS Securities LLC and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for capital expenditures, to repay $250 million of 5.8% first mortgage bonds due 2017 and for general company purposes.

The public utility is based in St. Petersburg, Fla., and is a subsidiary of Duke Energy Corp.

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