BB&T Capital Markets Serves as Co-Manager for Duke Energy’s $500 Million Offering of Floating Rate Senior Notes due 2021

Transaction Summary

On May 11, 2018, BB&T Capital Markets served as a co-manager for an offering of $500 million Floating Rate Senior Notes due 2021 by Duke Energy Corporation.

Proceeds from the offering will be used to repay outstanding debt.

About the Companies

Duke Energy, together with its subsidiaries, is a diversified energy company with both regulated and unregulated utility operations. The Electric Utilities and Infrastructure segment generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest to approximately 7.6 million retail electric customers. The Gas Utilities and Infrastructure segment distributes natural gas to residential, commercial, industrial, and power generation natural gas customers; and owns, operates, and invests in various pipeline transmission and natural gas storage facilities. The Commercial Renewables segment acquires, builds, develops, and operates wind and solar renewable generation projects.

About BB&T Capital Markets

BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.

  • Duke Energy Corporation (NYSE: DUK)

    On May 11, 2018, BB&T Capital Markets served as a co-manager for an offering of $500 million Floating Rate Senior Notes due 2021 by Duke Energy Corporation.

    Proceeds from the offering will be used to repay outstanding debt.

    Read More
  • DCP Midstream, L.P. (NYSE:DCP)

    BB&T Capital Markets’ Energy Group completed a transaction for DCP Midstream L.P, a midstream energy company in the second quarter of 2018, helping to raise $150,000,000 in gross proceeds for our client.

    DCP Midstream L.P, intends to use the net proceeds from this offering for general corporate purposes including capital expenditures and to repay outstanding debt.

    Read More
  • Sabal Trail Transmission, LLC

    On April 26, 2018, BB&T Capital Markets served as a co-manager for a three-tranche offering of $500 million 4.246% senior notes, $600 million 4.682% senior notes due 2038, and $400 million 4.832% senior notes due 2048 by Sabal Trail Transmission, LLC.

    Proceeds from the offering are being used to fund a sponsor distribution.

    Read More
  • Oasis Petroleum Inc. (NYSE: OAS)

    On April 30, 2018, BB&T Capital Markets served as a co-manager for an offering of $400 million 6.25% Senior Notes due 2026 by Oasis Petroleum Inc.

    Proceeds from the offering will be used to repay outstanding debt.

    Read More
  • RGC Resources, Inc. (NasdaqGM:RGCO)

    BB&T Capital Markets’ Energy Group completed a transaction for a Local Distribution Company (LDC) in the first quarter of 2018, helping to raise $16,100,000 in gross proceeds for our client.

    The company intends to use the net proceeds from the offering for general corporate purposes and to fund capital expenditures, such as utility plant investments and a portion of required contributions to Mountain Valley Pipeline, LLC. Total gross proceeds include the full exercise of the underwriters’ 30-day over-allotment option.

     

    Read More
  • Diamondback Energy, Inc. (Nasdaq:FANG)

    On January 24, 2018, BB&T Capital Markets served as a co-manager for the $300 million add-on offering to Diamondback’s existing 5.375% senior notes due 2025.

    Proceeds from the offering will be used to repay outstanding debt.

    Read More
  • Oasis Midstream Partners LP (NYSE: OMP)

    BB&T Capital Markets’ Energy Group completed a transaction for Oasis Midstream Partners LP, in the third quarter of 2017, helping to raise $146,625,000 in gross proceeds for our client.

    OMP intends to use the net proceeds to make a distribution to Oasis Petroleum and to pay expenses related to its new revolving credit facility. Total gross proceeds includes the exercise of the underwriters’ green shoe option.

    Read More
  • National Fuel Gas Company (NYSE:NFG)

    On September 18, 2017, BB&T Capital Markets served as a co-manager for an offering of $300 million 3.95% senior notes due 2027 by National Fuel Gas Company.

    National Fuel Gas intends to use the proceeds from the offering for general corporate purposes, including paying down outstanding debt.

    Read More
  • Washington Gas Light Company

    On September 13, 2017, BB&T Capital Markets served as a co-manager for an offering of a $200 million tap of 3.796% senior notes due 2046 by Washington Gas Light Company, a subsidiary of WGL Holdings, Inc.

    There are currently no specific plans for the use of proceeds. However, the company expects to use the proceeds for general corporate purposes and for paying down debt.

    Read More
  • Concho Resources Inc. (NYSE:CXO)

    On September 13, 2017, BB&T Capital Markets served as a co-manager for an offering of $1.0 billion 3.750% senior notes due 2027 and $800 million 4.875% senior notes due 2047 by Concho Resources Inc.

    Proceeds from the offering will be used to repay outstanding debt.

    Read More
  • Southwestern Energy Company (NYSE:SWN)

    On September 11, 2017, BB&T Capital Markets served as a co-manager for an offering of $650 million 7.500% senior notes due 2026 and $500 million 7.750% senior notes due 2027 by Southwestern Energy Company.

    Proceeds from the offering will be used to repay outstanding debt.

    Read More
  • WPX Energy, Inc. (NYSE: WPX)

    On August 8, 2017, BB&T Capital Markets served as a co-manager for an offering of $150 million 5.25% senior notes due 2024 by WPX Energy, Inc. This offering is an add-on for the existing $500 million 5.25% Senior Notes due 2024.

    Proceeds from the offering are being used to make Tender Offers.

    Read More
  • Noble Energy, Inc. (NYSE: NBL)

    On August 8, 2017, BB&T Capital Markets served as a co-manager for an offering of $600 million 3.850% senior notes due 2028 and $500 million 4.950% senior notes due 2047 by Noble Energy, Inc.

    Proceeds from the offering, together with cash on hand or available liquidity, are being used to purchase or redeem outstanding $1 billion 2019 Notes pursuant to a tender offer or redemption.

    Read More
  • American Water Works Co, Inc. (NYSE: AWK)

    On August 7, 2017, BB&T Capital Markets served as a co-manager for a two-tranche offering of $650 million 2.950% senior notes due 2027 and $750 million 3.750% senior notes due 2047 by American Water Capital Corp.

    Proceeds from the offering are being used to repay $524 million principal amount of the existing 6.085% Senior Notes due 2017 upon maturity on October 15, 2017, prepay up to $327 million aggregate principal amount of the outstanding long-term debt securities due in 2018 and 2021 and repay commercial paper obligations, and for general corporate purposes.

    Read More
  • Duke Energy Corp (NYSE: DUK)

    On August 7, 2017, BB&T Capital Markets served as a co-manager for a three-tranche offering of $500 million 2.40% senior notes due 2022, $750 million 3.15% senior notes due 2027, and $500 million 3.95% senior notes due 2047 by Duke Energy Corporation.

    Proceeds from the offering are being used to repay at maturity $700 million aggregate principal amount of 1.625% Senior Notes due August 15, 2017, to repay outstanding commercial paper and for general corporate purposes.

    Read More
  • Atmos Energy Corporation (NYSE: ATO)

    On June 5, 2017, BB&T Capital Markets served as a co-manager for an offering of $750 million two-tranche senior notes due 2027 and 2044 by Atmos Energy Corporation.

    Proceeds from the offering are being used to repay $250,000,000 6.35% senior notes due 2017, and for other general corporate purposes.

    Read More
  • NuStar Energy L.P. (NYSE: NS)

    BB&T Capital Markets’ Energy Group completed a transaction for NuStar Energy L.P., a midstream energy company in the second quarter of 2017, helping to raise $385,000,000 in gross proceeds for our client.

    NuStar Energy L.P. intends to use the net proceeds from this offering to partially fund the previously announced Navigator Energy Services, LLC acquisition.

    Read More
  • Alliance Resource Partners, L.P. (Nasdaq: ARLP)

    On April 7, 2017, BB&T Capital Markets served as a co-manager for an offering of $400 million 7.50% senior notes due 2025 by Alliance Resource Operating Partners, L.P.

    Proceeds from the offering are being used for general corporate purposes.

    Read More
  • Summit Midstream Partners L.P. (NYSE: SMLP)

    On February 8, 2017, BB&T Capital Markets served as a co-manager for a offering of $500 million 5.75% senior notes due 2025 by Summit Midstream Partners, L.P.

    Proceeds from the offering are being used for general corporate purposes.

    Read More
  • Suburban Propane Partners, L.P (NYSE: SPH)

    On February 7, 2017, BB&T Capital Markets served as a co-manager for an offering of $350 million 5.875% senior notes due 2027 by Suburban Propane Partners and Suburban Energy Finance Corporation.

    Proceeds from the offering are being used to fund the purchase of the 2021 notes and for general corporate purposes.

    Read More
  • MPLX, L.P. (NYSE: MPLX)

    On February 7, 2017, BB&T Capital Markets served as a co-manager for an offering of $1 billion 5.20% senior notes due 2047 by MPLX, L.P.

    Proceeds from the offering are being used for general corporate purposes.

    Read More
  • AmeriGas Partners, L.P (NYSE: APU)

    On February 6, 2017, BB&T Capital Markets served as a co-manager for an offering of $525 million 5.75% senior notes due 2027 by AmeriGas Partners and AmeriGas Financial Corporation.

    Proceeds from the offering are being used to repay in full the 2022 notes and for general corporate purposes.

    Read More
  • Just Energy Group Inc. (NYSE: JE, TSX: JE)

    BB&T Capital Markets’ Energy Group completed a transaction for an energy management solutions provider in the first quarter of 2017, helping to raise $100mm in gross proceeds for our client.

    Just Energy intends to use the net proceeds from the offering to support liquidity, and pre-fund debt maturities in 2018 and 2019. The Company has granted the underwriters a 30-day  option to purchase an additional 600,000 Preferred shares to cover over-allotments.

    Read More
  • WPX Energy Inc. (NYSE: WPX)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration and production company in the first quarter of 2017, helping to raise $670.41mm in gross proceeds for our client.

    WPX intends to use the net proceeds from the offering and cash on hand to finance the concurrently announced acquisition of certain assets of Panther Energy Company II, LLC and CP2 Operating LLC. If the acquisition is not consummated, the Company would use the net proceeds from this offering for working capital needs or general corporate purposes, which may include the repayment of indebtedness and other acquisitions. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 6,675,000 shares.

    Read More
  • Buckeye Partners, L.P. (NYSE: BLP)

    On October 27, 2016, BB&T Capital Markets served as a co-manager for a $600 million offering of 3.95% senior notes due 2026 by Buckeye Partners, L.P.

    Proceeds from the offering are being used to fund a portion of the purchase price for the VTTI Acquisition.

    Read More
  • Oasis Petroleum Inc. (NYSE: OAS)

    BB&T Capital Markets’ Energy Group completed a transaction for an exploration and production company in the fourth quarter of 2016, helping to raise $596,160,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to partially fund the cash portion of an acquisition of approximately 55,000 net acres in the Williston Basin, and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 7,200,000 shares.

    Read More
  • The Southern Company (NYSE: SO)

    BB&T Capital Markets’ Energy Group completed a transaction for a public utility holding company in the third quarter of 2016, helping to raise $800,000,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to repay short-term indebtedness and other general corporate purposes, including investment by the Company in its subsidiaries.

    Read More
  • Oasis Petroleum Inc. (NYSE: OAS)

    BB&T Capital Markets’ Energy Group completed a transaction for an exploration and production company in the third quarter of 2016, helping to raise $300,000,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to fund its tender offers for up to $275mm, plus accrued interest of its senior notes, and for general corporate purposes. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 25,000 notes.

    Read More
  • Chesapeake Utilities Corporation (NYSE: CPK)

    BB&T Capital Markets’ Energy Group completed a transaction for a diversified energy company in the third quarter of 2016, helping to raise $59,799,983 in gross proceeds for our client.

    BB&T Capital Markets’ Energy Group completed a transaction for a diversified energy company in the third quarter of 2016, helping to raise $59,799,983 in gross proceeds for our client.

    Read More
  • Targa Resources Corp. (NYSE: TRGP)

    On September 22, 2016, BB&T Capital Markets served as a co-manager for a $500 million offering of 5.375% senior notes due 2027 by Targa Resources Corp.

    Proceeds from this offering, if needed, are being used to fund the purchase of Tender Notes in the Tender Offers. To the extent that the Tender Offers are not completed or the net proceeds of this offering exceed the amount needed to fund the Tender Offers, the remaining net proceeds will be used for general partnership purposes.

    Read More
  • Noble Midstream Partners LP (NYSE: NBLX)

    BB&T Capital Markets’ Energy Group completed a transaction for a midstream oil & natural gas company in the third quarter of 2016, helping to raise $323,437,500 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to pay a cash distribution to Noble Energy for dedication of initial assets and for general corporate purposes. Total gross proceeds include the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 1,875,000 shares.

    Read More
  • Great Western Petroleum, LLC

    On September 15, 2016, BB&T Capital Markets served as a co-manager for a $300 million offering of 9.00% senior notes due 2021 by Great Western Petroleum and Great Western Finance Corp.

    The net proceeds from this offering will be used to repay in full their term loan credit facility, approximately $183 million to pay down all borrowings outstanding under the company’s revolving credit facility and the remaining net proceeds for general corporate purposes.

    Read More
  • Washington Gas Light Company (NYSE: WGL)

    On September 13, 2016, BB&T Capital Markets served as a co-manager for a $250 million offering of 3.796% medium term notes due 2046 by Washington Gas Light Company.

    Proceeds from the offering are being used to retire short-term debt primarily used to fund the company’s capital expenditure program and for general corporate purposes.

    Read More
  • Southern Company (NYSE: SO)

    On September 12, 2016, BB&T Capital Markets served as an underwriter for a $800 million offering of 5.25% junior subordinated notes due 2076 by Southern Company.

    Proceeds from offering will be used to repay short-term indebtedness that was incurred to fund the maturity of the Company’s $500 million aggregate principal amount of Series 2011A 1.95% Senior Notes due September 1, 2016 and for other general corporate purposes.

    Read More
  • Antero Midstream Partners, LP. (NYSE: AM)

    On September 8, 2016, BB&T Capital Markets served as a co-manager for a $650 million offering of 5.375% senior notes due 2024 by Antero Midstream Partners LP and Antero Midstream Finance Corporation.

    Proceeds from the offering are being used to repay the outstanding $760 million debt on their revolving credit facility.

    Read More
  • Southern Company (NYSE: SO)

    On September 8, 2016, BB&T Capital Markets served as a co-manager for a $350 million offering of 2.45% senior notes due 2023 and $550 million offering of 3.95% senior notes due 2046 by Southern Company Gas Capital Corporation.

    Proceeds from the offering of the 2.45% senior notes will be used for general corporate purposes and the proceeds from the 3.95% senior notes will be used to repay funds that The Southern Company lent to complete the acquisition of Southern Company Gas, and related transaction costs.

    Read More
  • AmeriGas Partners, L.P./AmeriGas Finance Corp.

    On June 20, 2016, BB&T Capital Markets served as a co-manager for a $1,350,000,000 offering of senior notes by AmeriGas Partners, L.P./AmeriGas Finance Corp. The offering consisted of two tranches: a $675,000,000 tranche of 5.625% senior notes due 2024 and a $675,000,000 tranche of 5.875% senior notes due 2026. Proceeds from the offering were used to repay in full the issuers’ 6.250% Senior Notes due 2019 and 6.500% Senior Notes due 2021 and the 6.750% Senior Notes due 2020 issued by AmeriGas Finance and AmeriGas Finance LLC and guaranteed by AmeriGas Partners and for general corporate purposes.

    Read More
  • Republic Services, Inc. (NYSE: RSG)

    On June 20, 2016, BB&T Capital Markets served as a co-manager for a $500,000,000 offering of 2.900% notes due in 2026 by Republic Services, Inc. Proceeds from the offering are being used to fund tender offers for Republic’s 6.200% notes due 2040; 5.700% notes due 2041; 7.400% debentures due  2035; and its 6.086% notes due 2035.

    Read More
  • QEP Resources Inc. (NYSE: QEP)

    BB&T Capital Markets’ Energy Group completed a transaction for a natural gas & oil exploration and production company in the second quarter of 2016, helping to raise $367,000,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering to partially fund the recently announced acquisition of oil and gas properties in the northern midland basin of the Permian Basin. The Company has granted the underwriters 30 days to exercise the over-allotment option, through which they may purchase an additional 3,000,000 shares.

    Read More
  • South Carolina Electric & Gas Company SCANA (NYSE: SCG)

    On June 8, 2016, BB&T Capital Markets served as a joint lead managers for a $500 million offering of first mortgage bonds for South Carolina Electric & Gas Company, a subsidiary of SCANA Corp. The offering consisted of two tranches: a $425 million offering of 30-year bonds and a $50 million re-opening of SCE&G’s existing 2064 maturity.

    Proceeds from the transaction are being used to repay short-term debt that was primarily incurred as a result of SCE&G’s construction program, to finance capital
    expenditures and for general corporate purposes.

    Read More
  • WPX Energy Inc. (NYSE: WPX)

    BB&T Capital Markets’ Energy Group completed a transaction for an oil & natural gas exploration and production company in the second quarter of 2016, helping to raise $557,865,000 in gross proceeds for our client.

    The Company intends to use the net proceeds from the offering for general corporate purposes, which may include an acceleration of drilling and completion activities, bolt-on acreage acquisitions and midstream infrastructure in the Delaware Basin. Total gross proceeds includes the full exercise of the underwriters’ over-allotment option, through which they purchased an additional 7,425,000 shares.

    Read More
  • Tri-State Generation and Transmission Association, Inc.

    On May 16, 2016, BB&T Capital Markets served as a co-manager for a $250 million offering of 4.25% first mortgage bonds due 2046 by Tri-State Generation and Transmission Association, Inc. Proceeds from the offering were used to repay indebtedness, including borrowings under the company’s revolving credit facility.

    Read More
  • Boardwalk Pipelines, LP

    On May 11, 2016, BB&T Capital Markets served as a co-manager for a $550 million offering of 5.95% senior notes due 2026 by Boardwalk Pipelines, LP. Proceeds from the offering are being used for general partnership purposes, which may include, among other things, growth capital expenditures, repayment of future maturities of long-term debt and additions
    to working capital.

    Read More
  • Arizona Public Service Company

    On May 3, 2016, BB&T Capital Markets served as a co-manager for a $350 million offering of 3.75% notes due 2046 by Arizona Public Service Company. Proceeds from the offering are being used to refinance debt.

    Read More
  • Alabama Power Co.

    BB&T Capital Markets served as a co-manager for a $400 million offering of senior notes by the Alabama Power Co. Proceeds from the offering are being used  to repay at maturity $200,000,000 aggregate principal amount of the Company’s Series FF 5.200% Senior Notes due January 15, 2016 and for general corporate purposes, including the Company’s continuous construction program.

    

    Read More
  • EOG Resources, Inc.

    BB&T Capital Markets served as a co-manager for a $1 billion offering of senior notes by EOG Resources, Inc. The offering consisted of a $750 million tranche of 4.15% senior notes due 2026 and a $250 million tranche of 5.10% senior notes due 2036. Proceeds from the offering are being used to repay the $400 million aggregate principal amount of the company’s 2.500% senior notes due 2016 when they mature on February 1, 2016, and for general corporate purposes, including repayment of outstanding commercial paper borrowings and funding of future capital expenditures.

    

    Read More
  • Marathon Petroleum Corp. (NYSE: MPC)

    On December 7, 2015, BB&T Capital Markets served as a co-manager for an offering of $250 million of 5.85% senior notes due 2045 by Marathon Petroleum. Proceeds from the offering are being used to repay notes due 2016 and for general corporate purposes.

    

    Read More
  • Florida Power & Light Company

    On November 16, 2015, BB&T Capital Markets served as a co-manager for an offering by Florida Power & Light Co. of $600 million of 3.125% first mortgage bonds due 2025. Proceeds from the offering are being used for general corporate purposes, including to repay short-term borrowings, to repay, redeem or repurchase outstanding debt and to finance the acquisition or construction of additional electric facilities and capital improvements to and maintenance of existing facilities.

    

    Read More
  • Southern Power Company

    On November 12, 2015, BB&T Capital Markets served as a co-manager for a two-tranche offering of senior notes by Southern Power Company, a subsidiary of The Southern Company. The offering consisted of $500 million of 1.85% Series 2015D senior notes due 2017 and $500 million of 4.15% Series 2015C senior notes due 2025. The net proceeds from the sale of the Series 2015D notes will be used by the company to fund renewable energy generation projects.

    

    Read More