Green Bond Fact Sheet

Duke Energy Carolinas LLC
Date: 19-Nov-2018
Issue date: 8-Nov-2018 Maturity date: 15-Nov-2028 Tenor: 10 (longest dated bond)Issuer Name

Duke Energy Carolinas
LLC

Amount Issued

USD1bnCountry of risk

USA

CBI Database

Included

Issuer Type1

Non-Financial
Corporate

Bond Type

Senior secured

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Not certified

Assurance report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☒ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emissionvehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingWithin one year of the date of this prospectus supplement and during the term of theMortgage Bonds, the issuer will provide information on the proceed allocations of theMortgage Bonds, to be updated at least annually until full disbursement of such net
proceeds and as necessary thereafter in the event of material developments.

Company information

Duke Energy Carolinas LLC generates, transmits, distributes, and sells electricity inNorth Carolina and South Carolina. The company generates electricity throughcoal, natural gas, nuclear fuels, hydroelectric, solar, and oil. It supplies electric
service to 2.5 million residential, commercial, and industrial customers covering an
area of approximately 24,000 square miles. (source)Firsts, records andcertifications

Largest US utility company to issue a green bond.

Proceeds description

Climate Bonds view

Underwriters

The deal is secured by a continuing lien on the issuer’s selected properties andfranchises. According to the Green Bond Framework incorporated in the deal’s
prospectus supplement, the First and Refunding Mortgage Bonds will finance solar
energy projects, including PPA agreements and rebates for rooftop solar
installations, as well as energy storage related to distributed and grid assets andpumped-storage at existing hydro facilities. Projects are located in North and South
Carolina.
This debut benchmark issuance from one of the largest US energy holding
companies provides yet another example of how large utility companies can use
the green bond market as a source of finance to expand their exposure to green
assets.
BNP Paribas, Merrill Lynch Pierce Fenner & Smith, Mitsubishi UFG, Scotia
Capital, Toronto Dominion Bank

Deal comments
Credit Rating

A (S&P); Aa2 (Moody’s)

Pricing summary
Investors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government,
non-financial corporate, sovereign