By Andrea Heisinger
New York, March 18 - Duke Energy Ohio, Inc. priced $450 million 5.45% 10-year first mortgage bonds Wednesday to yield Treasuries plus 250 basis points, according to an FWP filing with the Securities and Exchange Commission.
The bonds (A3/A/) priced at 99.96 to yield 5.455%.
There is a make-whole call at Treasuries plus 40 bps.
Bookrunners were Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust Robinson Humphrey and UBS Investment Bank.
Co-managers were Banca IMI and Scotia Capital.
Proceeds will be used to repay short-term notes and for general corporate purposes, including funding capital expenditures.
The electric subsidiary of Duke Energy Corp. is based in Cincinnati.
Issuer: | Duke Energy Ohio, Inc.
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Issue: | First mortgage bonds
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Amount: | $450 million
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Maturity: | April 1, 2019
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Bookrunners: | Barclays Capital Inc., Deutsche Bank Securities Inc., SunTrust Robinson Humphrey, UBS Investment Bank
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Co-managers: | Banca IMI, Scotia Capital
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Coupon: | 5.45%
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Price: | 99.96
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Yield: | 5.455%
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Spread: | Treasuries plus 250 bps
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Call: | Make-whole at Treasuries plus 40 bps
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Trade date: | March 18
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Settlement date: | March 24
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Ratings: | Moody's: A3
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| Standard & Poor's: A
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