Hunton Andrews Kurth LLP advised Duke Energy Progress, LLC (the “Company”) on SEC-registered offerings of (i) $500 million aggregate principal amount of its First Mortgage Bonds, 4.35% Series due 2027, (iii) $850 million aggregate principal amount of its First Mortgage Bonds, 5.05% Series due 2035 and (ii) $750 million aggregate principal amount of its First Mortgage Bonds, 5.55% Series due 2055. The transaction closed on March 6, 2025.

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 1.8 million residential, commercial and industrial customers.

The Hunton team included Peter K. O’Brien, Brendan P. Harney, Reuben H. Pearlman and Monika M. Dziewa. Robert McNamara, William Freeman, Caitlin Scipioni and Katherine Gallagher provided tax advice.