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Duke Energy plans to refinance $883 million tax-exempt auction-rate bonds
By Cristal Cody
Springdale, Ark., Feb. 21 - Duke Energy in Charlotte, N.C., plans to refund and refinance $883 million tax-exempt auction-rate bonds, the company said in a statement Thursday.
Subsidiaries Duke Energy Carolinas LLC, Duke Energy Ohio Inc., Duke Energy Indiana Inc. and Duke Energy Kentucky Inc. intend to refinance the obligations by pricing an equivalent amount of tax-exempt bonds over the next several weeks.
Duke Energy said it is pursuing the refunding plans in reaction to increased interest rates payable on the auction-rate bonds.
The refunding plan will be presented to Duke Energy's board next week.
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