EX-99.1 2 defpf-20170301xexhibit991.htm EXHIBIT 99.1 Exhibit
Exhibit 99.1

SEMI-ANNUAL SERVICER’S CERTIFICATE
Pursuant to Section 4.01(c)(ii) of the Nuclear Asset-Recovery Property Servicing Agreement, dated as of June 22, 2016 (Servicing Agreement), by and between DUKE ENERGY FLORIDA, LLC, as servicer (Servicer), and Duke Energy Florida Project Finance, LLC, the Servicer does hereby certify, for the March 1, 2017, Payment Date (Current Payment Date), as follows:
Capitalized terms used but not defined herein have their respective meanings as set forth in the Servicing Agreement. References herein to certain sections and subsections are references to the respective sections of the Servicing Agreement or the Indenture, as the context indicates.
Collection Periods: Issuance to February 28, 2017
Payment Date: March 1, 2017
1.
Collections Allocable and Aggregate Amounts Available for the Current Payment Date:
i.
Remittances for the
July 2016
Collection Period
$
1,897,418

ii.
Remittances for the
August 2016
Collection Period
10,102,941

iii.
Remittances for the
September 2016
Collection Period
10,349,761

iv..
Remittances for the
October 2016
Collection Period
8,243,612

v.
Remittances for the
November 2016
Collection Period
9,792,938

vi.
Remittances for the
December 2016
Collection Period
5,798,933

vii.
Remittances for the
January 2017
Collection Period
6,675,298

viii.
Remittances for the
February 2017
Collection Period
6,633,092

ix.
Investment Earnings on Capital Subaccount
8,457

x.
Investment Earnings on Excess Funds Subaccount

xi.
Investment Earnings on General Subaccount
49,505

xii.
General Subaccount Balance (sum of i through xi above)
$
59,551,955

xiii.
Excess Funds Subaccount Balance as of prior Payment Date

xiv.
Capital Subaccount Balance as of prior Payment Date
6,471,450

xv.
Collection Account Balance (sum of xii through xiv above)
$
66,023,405


2.     Outstanding Amounts of as of prior Payment Date:
i.
Series A
2018
 
Outstanding Amount
$
183,000,000

ii.
Series A
2021
 
Outstanding Amount
150,000,000

iii.
Series A
2026
 
Outstanding Amount
436,000,000

iv.
Series A
2032
 
Outstanding Amount
250,000,000

v.
Series A
2035
 
Outstanding Amount
275,290,000

vi.
Aggregate Outstanding Amount of all Series A Bonds
$
1,294,290,000

3.     Required Funding/Payments as of Current Payment Date:
 
Principal
 
 
 
Principal Due
i.
Series A
2018
 
 
$
35,700,000

ii.
Series A
2021
 
 

iii.
Series A
2026
 
 

iv.
Series A
2032
 
 

v.
Series A
2035
 
 

vi.
All Series A Bonds
$
35,700,000




Exhibit 99.1

 
Interest
 
 
 
 
 
 
 
 
 
 
 
WAL
 
 
 
Interest Rate
 
Days in Interest Period
 
Principal Balance
 
Interest Due
v.
Series A
2018
 
 
1.196
%
 
249

 
$
183,000,000

 
$
1,513,837

vi.
Series A
2021
 
 
1.731
%
 
249

 
150,000,000

 
1,795,913

vii.
Series A
2026
 
 
2.538
%
 
249

 
436,000,000

 
7,653,762

viii.
Series A
2032
 
 
2.858
%
 
249

 
250,000,000

 
4,941,958

ix.
Series A
2035
 
 
3.112
%
 
249

 
275,290,000

 
5,925,525

 
 
 
 
 
 
 
 
 
 
 
 
x.
All Series A Bonds
 
$
21,830,995

 
 
 
 
 
 
 
 
 
Required Level
 
Funding Required
xi.
Capital Account
 
 
 
 
 
$
6,471,450.00

 
$

4.     Allocation of Remittances as of Current Payment Date Pursuant to 8.02(e) of Indenture:
i.
Trustee Fees and Expenses; Indemnity Amounts
$

ii.
Servicing Fee
447,609

iii.
Administration Fee
34,583

iv.
Operating Expenses
40,958

 
 
 
 
 
 
 
 
Series A Bonds
Aggregate
Per $1,000 of Original Principal Amount
 
v.
Semi-Annual Interest (including any past-due for prior periods)
 
$
21,830,995

1.
Series A
2018
 
 
$
1,513,837

$
8.27

 
2.
Series A
2021
 
 
1,795,913

11.97

 
3.
Series A
2026
 
 
7,653,762

17.55

 
4.
Series A
2032
 
 
4,941,958

19.77

 
5.
Series A
2035
 
 
5,925,525

21.52

 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
vi.
Principal Due and Payable as a Result of an Event of Default or on Final Maturity Date
$

1.
Series A
2018
 
 
$

$

 
2.
Series A
2021
 
 


 
3.
Series A
2026
 
 


 
4.
Series A
2032
 
 


 
5.
Series A
2035
 
 


 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
vii.
Semi-Annual Principal
$
35,700,000

1.
Series A
2018
 
 
$
35,700,000

$
195.08

 
2.
Series A
2021
 
 

 
 
3.
Series A
2026
 
 

 
 
4.
Series A
2032
 
 

 
 
5.
Series A
2035
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
viii.
Other unpaid Operating Expenses
$

ix.
Funding of Capital Subaccount (to required level)

x.
Capital Subaccount Return to Duke Energy Florida
139,296

xi.
Deposit to Excess Funds Subaccount
1,358,514

xii.
Released to Issuer upon Retirement of all Series Bonds

xiii.
Aggregate Remittances as of Current Payment Date
$
59,551,955




Exhibit 99.1

5.
Outstanding Amount and Collection Account Balance as of Current Payment Date (after giving effect to payments to be made on such Payment Date):
i.
Series A
2018
 
 
$
147,300,000

ii.
Series A
2021
 
 
150,000,000

iii.
Series A
2026
 
 
436,000,000

iv.
Series A
2032
 
 
250,000,000

v.
Series A
2035
 
 
275,290,000

vi.
Aggregate Outstanding Amount of all Series A Bonds
$
1,258,590,000

vii.
Excess Funds Subaccount Balance
1,358,513

viii.
Capital Subaccount Balances
6,471,450

ix.
Aggregate Collection Account Balance
$
7,829,963

6.    Subaccount Withdrawals as of Current Payment Date (if applicable, pursuant to Section 8.02(e) of Indenture):
i.
Excess Funds Subaccount
 
 
$

ii.
Capital Subaccount
 
 

iii.
Total Withdrawals
 
 
$

7.    Shortfalls in Interest and Principal Payments as of Current Payment Date:
i.
Semi-annual Interest
 
 
 
Series A
2018
 
 
$

 
Series A
2021
 
 

 
Series A
2026
 
 

 
Series A
2032
 
 

 
Series A
2035
 
 

 
Total
 
 
 
$

ii.
Semi-annual Principal
 
 
Series A
2018
 
 
$

 
Series A
2021
 
 

 
Series A
2026
 
 

 
Series A
2032
 
 

 
Series A
2035
 
 

 
Total
 
 
 
$

8.    Shortfalls in Payment of Return on Invested Capital as of Current Payment Date:
i.
Return on Invested Capital
$

9.    Shortfalls in Required Subaccount Levels as of Current Payment Date:
i.
Capital Subaccount
$




Exhibit 99.1

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Semi-Annual Servicer’s Certificate.
Date:
February 21, 2017
DUKE ENERGY FLORIDA, LLC,
 
 
as Servicer
 
 
 
 
 
 
 
By:
/s/ David Doss
 
 
David Doss
 
 
Director, Electric Utilities and Infrastructure