By Andrea Heisinger
New York, Jan. 21 - Duke Energy Corp. priced $750 million 6.3% five-year senior notes Wednesday to yield Treasuries plus 475 basis points, a market source said.
The notes (Baa2/BBB+) priced at 99.812 to yield 6.344% with a make-whole call of Treasuries plus 50 bps.
The size of the issue was reportedly upsized from $500 million, according to a market source, but that could not be confirmed by a bookrunner.
Bookrunners were Banc of America Securities LLC, J.P. Morgan Securities Inc. and Morgan Stanley & Co. Inc.
Co-managers were Banca IMI, BBVA Securities Inc., Mitsubishi UFJ Securities Inc. and Mizuho Securities USA Inc.
Proceeds will be used to redeem up to $450 million of commercial paper as it matures and for general corporate purposes.
The electric company is based in Charlotte, N.C.
| Issuer: | Duke Energy Corp.
|
| Issue: | Senior notes
|
| Amount: | $750 million
|
| Maturity: | Feb. 1, 2014
|
| Bookrunners: | Banc of America Securities LLC, J.P. Morgan Securities Inc., Morgan Stanley & Co. Inc.
|
| Co-managers: | Banca IMI, BBVA Securities Inc., Mitsubishi UFJ Securities Inc., Mizuho Securities USA Inc.
|
| Coupon: | 6.3%
|
| Price: | 99.812
|
| Yield: | 6.344%
|
| Spread: | Treasuries plus 475 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | Jan. 21
|
| Settlement date: | Jan. 26
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB+
|
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