New Issue: Duke Energy Ohio sells $250 million 3.7% 30-year mortgage bonds at 125 bps spread

By Cristal Cody

Eureka Springs, Ark., June 20 – Duke Energy Ohio, Inc. sold $250 million of 3.7% 30-year first mortgage bonds at 99.301 to yield 3.739% on Monday, according to an FWP filing with the Securities and Exchange Commission.

The bonds (A2/A/A) priced with a spread of 125 basis points over Treasuries.

Citigroup Global Markets Inc., Lebenthal Capital Markets, Loop Capital Markets LLC, Mischler Financial Group, Inc., Samuel A. Ramirez & Co. Inc. and Williams Capital Group LP were the bookrunners.

Proceeds will be used to fund capital expenditures for ongoing construction, for capital maintenance and for general corporate purposes.

The Charlotte, N.C.-based company generates, transmits, distributes and sells electricity and is a wholly owned subsidiary of Duke Energy Corp.

Issuer:	Duke Energy Ohio, Inc.
Amount:	$250 million
Maturity:	June 15, 2046
Securities:	First mortgage bonds
Bookrunners:	Citigroup Global Markets Inc., Lebenthal Capital Markets, Loop Capital Markets LLC, Mischler Financial Group, Inc., Samuel A. Ramirez & Co. Inc., Williams Capital Group LP
Coupon:	3.7%
Price:	99.301
Yield:	3.739%
Spread:	Treasuries plus 125 bps
Call feature:	Before Dec. 15, 2045 at greater of par and Treasuries plus 20 bps; on or after par call date at par
Pricing date:	June 20
Settlement date:	June 23
Ratings:	Moody’s: A2
	S&P: A
	Fitch: A
Distribution:	SEC registered

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