Hunton Andrews Kurth Represents Duke Energy Progress, LLC in its $500 Million Issuance of Green Bonds

Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on an SEC-registered offering of $500 million aggregate principal amount of its First Mortgage Bonds, 5.10% Series due 2034. An amount equal to the net proceeds of the offerings will be allocated by the Company to pay or reimburse the payment of, in whole or in part, existing and new eligible green expenditures in the United States.

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 28,000 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 Monika M. Dziewa. Robert McNamara, William Freeman and Caitlin A. Scipioni provided tax advice.