Hunton Andrews Kurth Represents Duke Energy Carolinas in its $1.15 Billion Inaugural Sustainability Bond Offerings

Hunton Andrews Kurth LLP advised Duke Energy Carolinas, LLC (the “Company”) on SEC-registered offerings of (i) $500 million aggregate principal amount of First and Refunding Mortgage Bonds, 2.85% Series due 2032 and (ii) $650 million aggregate principal amount of First and Refunding Mortgage Bonds, 3.55% Series due 2052. The offerings constituted the Company’s inaugural issuance of sustainability bonds. The transaction closed on March 4, 2022.

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 North Carolina and South Carolina. The Company’s service area covers approximately 24,000 square miles and supplies electric service to approximately 2.8 million residential, commercial and industrial customers. As of December 31, 2021, the Company’s asset portfolio included approximately 20,081 megawatts of owned generation capacity, 106,600 miles of distribution lines and 13,000 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.