Duke Energy Progress plans offering of 30-year first mortgage bonds

By Devika Patel

Knoxville, Tenn., Sept. 13 – Duke Energy Progress Inc. is selling first mortgage bonds due Oct. 15, 2046, according to a 424B5 filing with the Securities and Exchange Commission.

The bonds have a make-whole call until April 15, 2046 and are then callable at par.

Credit Suisse Securities (USA) LLC, MUFG and Wells Fargo Securities LLC are the bookrunners.

Proceeds will be used for capital expenditures for ongoing construction and capital maintenance and for general company purposes.

Raleigh, N.C.-based Duke Energy Progress generates and distributes electricity in North Carolina and South Carolina.

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