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Duke Energy Ohio offers add-on to 3.7% mortgage bonds due 2046
By Devika Patel
Knoxville, Tenn., March 22 – Duke Energy Ohio, Inc. intends to price an add-on to its 3.7% first mortgage bonds (A2/A/A) due June 15, 2046, according to a 424B5 filing with the Securities and Exchange Commission.
The company sold $250 million of the notes at 99.301 to yield 3.739%, or 125 basis points over Treasuries, in an offering that priced on June 20, 2016 and settled on June 23, 2016.
The bonds have a make-whole call at the greater of par and Treasuries plus 20 bps until Dec. 15, 2045 and are then callable at par.
Citigroup Global Markets Inc. and Loop Capital Markets LLC are the bookrunners.
Proceeds will be used for capital expenditures for ongoing construction, capital maintenance and 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.
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