CHARLOTTE, N.C., Nov. 26, 2019 /PRNewswire/ -- Duke Energy
Florida, a subsidiary of Duke Energy (NYSE: DUK), completed two
debt issuances today, aligned with the company's focus on
generating cleaner energy and advancing diversity and
inclusion.
The first transaction, totaling $700
million, marks Duke Energy Florida's inaugural green bond,
which will finance eligible green energy projects, including the
development, construction and procurement of solar generation and
utility-scale battery storage projects in the state.
This transaction marks the third green bond issued by a Duke
Energy utility in the past 12 months – and brings Duke Energy's
total clean energy offerings to $2.3
billion. Duke Energy Carolinas issued a $1 billion green bond in November 2018 and Duke Energy Progress issued a
$600 million green bond in
March 2019.
Duke Energy Florida's second transaction, totaling $200 million, was led by PNC Bank and five
diversity-owned financial institutions, further demonstrating Duke
Energy's pledge to elevate diversity and inclusion. Each of the
firms served as an active bookrunner. The firms included CastleOak
Securities, C.L. King & Associates, Drexel Hamilton, Great Pacific Securities and
Ramirez & Co. – representing African American-owned,
women-owned, Hispanic-owned and disabled veteran-owned
institutions.
The funds from this bond will be used to cover costs associated
with Hurricane Dorian, as well as other general corporate
purposes.
"These transactions demonstrate Duke Energy is investing in more
than just energy infrastructure. By offering green and
diversity-led bonds, we are investing in the future of Florida," said Duke Energy Florida state
president Catherine Stempien. "We
are generating cleaner energy for our customers and communities –
and the green bond helps us fund these important projects as we
advance our carbon-reduction goals.
As a company, we're enhancing diversity and inclusion, with our
commitment extending beyond the walls of Duke Energy. Increasing
diversity is the right thing to do – and we are taking deliberate
actions to increase our work with diverse suppliers, financial
advisors, investors and more."
Sam Ramirez, president of
Hispanic-owned Ramirez & Co., said his company was pleased to
be a part of today's transaction. Ramirez & Co. has operations
in Florida.
"The partnership on this transaction is a testament to Duke
Energy's commitment to diversity and inclusion. We were proud to
have a meaningful role in the deal and it demonstrates that Duke
Energy understands the importance of involving institutions like
ours. It allowed different kinds of diversity-owned firms help Duke
Energy Florida broaden its investor base and access low-cost
capital on behalf of its customers," said Ramirez.
Duke Energy has outlined a comprehensive strategy to reduce
carbon emissions by more than 50 percent by 2030, and is striving
to attain net-zero carbon emissions by 2050. Duke Energy Florida
plans to install or acquire more than 700 megawatts of solar energy
through 2022. To date, approximately 345 megawatts have been
installed or are currently under construction to benefit
customers.
The $700 million green bond was
priced at a fixed-rate coupon of 2.50% and has a 10-year maturity.
The $200-million diversity-led
transaction has a two-year maturity and a floating rate pricing
structure, with initial pricing set at approximately 2.17%.
The company priced the bonds on Nov.
21 and closed the transaction earlier today.
Duke Energy
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse
generation mix of natural gas, coal and renewables, providing about
10,200 megawatts of owned electric capacity to approximately 1.8
million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
Charlotte, N.C., is one of the
largest energy holding companies in the U.S. It employs 30,000
people and has an electric generating capacity of 51,000 megawatts
through its regulated utilities, and 3,000 megawatts through its
nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience,
modernizing the energy grid, generating cleaner energy and
expanding natural gas infrastructure to create a smarter energy
future for the people and communities it serves. The Electric
Utilities and Infrastructure unit's regulated utilities serve
approximately 7.7 million retail electric customers in six states –
North Carolina, South Carolina, Florida, Indiana, Ohio
and Kentucky. The Gas Utilities
and Infrastructure unit distributes natural gas to more than 1.6
million customers in five states – North
Carolina, South Carolina,
Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit
operates wind and solar generation facilities across the U.S., as
well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired
Companies" list, and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com.
The Duke Energy News Center contains news releases, fact sheets,
photos, videos and other materials. Duke Energy's illumination
features stories about people, innovations, community topics and
environmental issues. Follow Duke Energy on Twitter, LinkedIn,
Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy