12/02/2021 | Press release | Distributed by Public on 12/02/2021 16:24
Hunton Andrews Kurth LLP advised Duke Energy Florida, LLC (the "Company") on SEC-registered offerings of (i) $650 million aggregate principal amount of First Mortgage Bonds, 2.40% Series due 2031 and (ii) $500 million aggregate principal amount of First Mortgage Bonds, 3.00% Series due 2051. The offerings constituted the Company's inaugural issuance of sustainability bonds. The transaction closed on December 2, 2021.
The Company, is a an indirect wholly owned subsidiary of Duke Energy Corporation, is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. The Company's service area covers approximately 13,000 square miles and supplies electric service to approximately 1.9 million residential, commercial and industrial customers. As of December 31, 2020, the Company's asset portfolio included approximately 10,287 megawatts of owned generation capacity, 46,200 miles of distribution lines and 4,900 miles of transmission lines.
The Hunton Andrews Kurth team included Peter K. O'Brien, S. Christina Kwon, Brendan P. Harney and Reuben H. Pearlman. Robert McNamara and Tim Strother provided tax advice.