Hunton Andrews Kurth Advises on Duke Energy Florida, LLC’s $173 Million Qualified Replacement Property First Mortgage Bonds Offering

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Hunton Andrews Kurth LLP advised Duke Energy Florida, LLC (the “Company”) on a SEC-registered offering of $173 million aggregate principal amount of First Mortgage Bonds, Floating Rate Series due 2074. The Company will pay interest on the Bonds quarterly in arrears at a floating rate equal to compounded SOFR minus 0.35%.

The Company, a Florida limited liability company and 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 12,303 square miles and supplies electric service to 2 million residential, commercial and industrial customers. As of December 31, 2023, the Company’s asset portfolio included approximately 10,488 megawatts of owned generation capacity, 47,900 miles of distribution lines and 5,100 miles of transmission lines.

The Hunton Andrews Kurth team included Peter K. O’BrienBrendan P. HarneyReuben H. Pearlman, Monika M. Dziewa and Jingyi “Alice” YaoRobert McNamaraWilliam Freeman and Caitlin A. Scipioni provided tax advice.

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