0001104659-18-040820.txt : 20180618 0001104659-18-040820.hdr.sgml : 20180618 20180618165154 ACCESSION NUMBER: 0001104659-18-040820 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20180618 DATE AS OF CHANGE: 20180618 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE ENERGY FLORIDA, LLC. CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-213765-04 FILM NUMBER: 18905196 BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: DUKE ENERGY FLORIDA, INC. DATE OF NAME CHANGE: 20130514 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP DATE OF NAME CHANGE: 20060629 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DUKE ENERGY FLORIDA, LLC. CENTRAL INDEX KEY: 0000037637 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 590247770 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 BUSINESS PHONE: 7278205151 MAIL ADDRESS: STREET 1: 100 CENTRAL AVENUE CITY: ST. PETERSBURG STATE: FL ZIP: 33701 FORMER COMPANY: FORMER CONFORMED NAME: DUKE ENERGY FLORIDA, INC. DATE OF NAME CHANGE: 20130514 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP DATE OF NAME CHANGE: 20060629 FORMER COMPANY: FORMER CONFORMED NAME: FLORIDA POWER CORP / DATE OF NAME CHANGE: 19950829 FWP 1 a18-15184_3fwp.htm FWP

 

Filed pursuant to Rule 433

June 18, 2018

Relating to

Preliminary Prospectus Supplement dated June 18, 2018

to

Prospectus dated January 26, 2017

Registration Statement No. 333-213765-04

 

Duke Energy Florida, LLC
First Mortgage Bonds,

$600,000,000 3.80% Series due 2028
$400,000,000 4.20% Series due 2048

 

Pricing Term Sheet

 

Issuer:

 

Duke Energy Florida, LLC

Trade Date:

 

June 18, 2018

Settlement Date:

 

June 21, 2018; T + 3

Ratings (Moody’s/S&P):*

 

A1/A(stable/stable)

Interest Payment Dates:

 

January 15 and July 15, beginning on January 15, 2019

Security Description:

 

First Mortgage Bonds, 3.80% Series due 2028 (the “2028 Mortgage Bonds”)

 

First Mortgage Bonds, 4.20% Series due 2048 (the “2048 Mortgage Bonds”)

Principal Amount:

 

$600,000,000

 

$400,000,000

Maturity Date:

 

July 15, 2028

 

July 15, 2048

Price to Public:

 

99.815% per 2028 Mortgage Bond, plus accrued interest, if any, from June 21, 2018

 

99.861% per 2048 Mortgage Bond, plus accrued interest, if any, from June 21, 2018

Coupon:

 

3.80%

 

4.20%

Benchmark Treasury:

 

2.875% due May 15, 2028

 

3.000% due February 15, 2048

Benchmark Treasury Yield:

 

2.922%

 

3.058%

Spread to Benchmark Treasury:

 

+ 90 bps

 

+ 115 bps

Yield to Maturity:

 

3.822%

 

4.208%

Redemption Provisions/
Make-Whole Call:

 

At any time before April 15, 2028 (which is the date that is three months prior to maturity of the 2028 Mortgage Bonds (the “2028 Par Call Date”)), redeemable at the Treasury Rate + 15 bps. At any time on or after the 2028 Par Call Date, redeemable at par.

 

At any time before January 15, 2048 (which is the date that is six months prior to maturity of the 2048 Mortgage Bonds (the “2048 Par Call Date”)), redeemable at the Treasury Rate + 20 bps. At any time on or after the 2048 Par Call Date, redeemable at par.

CUSIP / ISIN:

 

26444H AE1 / US26444HAE18

 

26444H AF8 / US26444HAF82

Joint Book-Running Managers:

 

Barclays Capital Inc.
BNP Paribas Securities Corp.
PNC Capital Markets LLC
SMBC Nikko Securities America, Inc.
SunTrust Robinson Humphrey, Inc.

Senior Co-Manager:

 

Loop Capital Markets LLC

Co-Managers:

 

BB&T Capital Markets, a division of BB&T Securities, LLC
BNY Mellon Capital Markets, LLC
Santander Investment Securities Inc.
The Williams Capital Group, L.P.

Junior Co-Managers:

 

CastleOak Securities, L.P.
Samuel A. Ramirez & Company, Inc.

 

*  Security ratings are not recommendations to buy, sell or hold securities. The ratings are subject to change or withdrawal at any time by the respective credit rating agencies.

 

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital Inc. toll free at 1-888-603-5847, BNP Paribas Securities Corp. toll-free at 1-800-854-5674, PNC Capital Markets LLC toll-free at 1-855-881-0697, SMBC Nikko Securities America, Inc. toll-free at 1-888-868-6856 or SunTrust Robinson Humphrey, Inc. toll free at 1-800-685-4786.