Hunton Andrews Kurth LLP Represents Duke Energy Progress in its $1 Billion First Mortgage Bond Offerings

Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on SEC-registered offerings of (i) $500 million aggregate principal amount of its First Mortgage Bonds, 5.25% Series due 2033 and (ii) $500 million aggregate principal amount of its First Mortgage Bonds, 5.35% Series due 2053. The transaction closed on March 9, 2023.

The Company, a North Carolina 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 North Carolina and South Carolina. The Company’s service area covers approximately 29,000 square miles and supplies electric service to approximately 1.7 million residential, commercial and industrial customers.

The Hunton Andrews Kurth team included Peter K. O’Brien, Brendan P. Harney, Reuben H. Pearlman and Thomas C. White. Robert McNamara and Tim Strother provided tax advice.