Duke Energy Ohio plans to sell 10-, 30-year first mortgage bonds

By Devika Patel

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

The notes are due on Feb. 1, 2029 and Feb. 1, 2049.

The 2029 notes feature a make-whole call until Nov. 1, 2028 and then a par call. The 2049 notes feature a make-whole call until Aug. 1, 2048 and then a par call.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and U.S. Bancorp Investments Inc. are the bookrunners.

Proceeds will be used to repay at maturity $450 million of the company’s 5.45% first mortgage bonds due April 1, 2019, to pay down some commercial paper 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.

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