Evergy Metro plans offering of fixed-rate mortgage bonds

By Mary-Katherine Stinson

Lexington, Ky., April 1 – Evergy Metro, Inc. is planning an offering of series 2024 mortgage bonds, according to a 424B5 filing with the Securities and Exchange Commission.

The bonds will feature a make-whole call option until some months prior to maturity, which then will convert to a par call option.

MUFG Securities Americas Inc., PNC Capital Markets LLC, Regions Securities LLC and Truist Securities, Inc. are the underwriters.

UMB Bank, NA is the trustee.

The company will use in-house counsel as well as Hunton Andrews Kurth LLP. The bookrunners will be advised by Bracewell LLP.

Proceeds will be used to repay debt incurred under commercial paper borrowings and for general corporate purposes. As of Dec, 31, the company had approximately $423.3 million of outstanding short-term debt under its commercial paper program with a weighted average interest rate of 5.58%.

The issuer is an electric utility based in Kansas City, Mo. and is a subsidiary of Evergy, Inc.

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