Hunton Andrews Kurth Advises Evergy Missouri West, Inc. on $331 Million Offering of Securitized Utility Tariff Bonds, Series 2024-A

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February 23, 2024
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Hunton Andrews Kurth LLP acted as counsel to Evergy Missouri West, Inc. (“Evergy Missouri West”) on an SEC-registered offering of $331 million aggregate principal amount of Securitized Utility Tariff Bonds, Series 2024-A (the “Bonds”) by Evergy Missouri West Storm Funding I, LLC, as “Issuing Entity”, a special purpose entity, wholly-owned by Evergy Missouri West, as sponsor, depositor and initial servicer.

Evergy Missouri West is engaged, generally, in the business of generation, transmission, distribution and sale of electricity in western Missouri, including the suburban Kansas City metropolitan area, the city of St. Joseph and surrounding counties. The Bonds were sold pursuant to a financing order issued by the Missouri Public Service Commission. The Bond proceeds will be used to (i) pay expenses of issuance and (ii) purchase the securitized utility tariff property from Evergy Missouri West. In accordance with the financing order, Evergy Missouri West intends to use the ultimate proceeds it receives from the sale of the securitized utility tariff property to recover the qualified extraordinary costs incurred by Evergy Missouri West in connection with the anomalous weather event Winter Storm Uri, as approved in the financing order.

The Hunton Andrews Kurth team included Michael F. Fitzpatrick, Jr., Adam O’Brian, Brendan P. Harney, Michelle G. Chan and Matthew A. HayesJason W. Harbour assisted with certain bankruptcy advice, Shawn Patrick Regan and Kate Perkins assisted with certain constitutional law matters, Bob Hahn, Hillary Peet Patterson and Emma Weiss Gram assisted with intercreditor matters, Leslie A. Okinaka provided ERISA advice and George Howell, Anna Knecht Page and Zachary Roop provided tax advice.

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