Hunton Andrews Kurth LLP Represents Duke Energy Progress, LLC on its Concurrent Offerings of $600 Million Fixed Rate First Mortgage Bonds and $700 Million Floating Rate Unsecured Notes

Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on its concurrent SEC-registered offerings of (i) $600 million aggregate principal amount of First Mortgage Bonds, 2.50% Series due 2050 and (ii) $700 million aggregate principal amount of Series A Floating Rate Notes due 2022.

The Company, an indirect wholly owned subsidiary of Duke Energy Corporation, generates, transmits, distributes and sells 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 1.6 million residential, commercial and industrial customers. As of December 31, 2019, the Company’s asset portfolio included approximately 12,994 megawatts of owned generation capacity, 77,200 miles of distribution lines and 6,266 miles of transmission lines.

The Hunton Andrews Kurth team included Pete O’Brien, Christina Kwon, Brendan P. Harney and Flavia Vehbiu. Robert J. McNamara and Tim Strother provided tax advice.