Duke Energy Carolinas NC Storm Funding II issues $582M storm recovery bonds

Duke Energy Carolinas NC Storm Funding II LLC

Issued $582,089,000 Series A Senior Secured Storm Recovery Bonds on September 30, 2025.
Bonds backed by nonbypassable storm recovery charges under NCUC Financing Order dated June 18, 2025.
NCUC order became final and non-appealable on August 19, 2025; bonds sold via prospectus dated September 23, 2025.
Legal opinion concludes state pledge creates contractual rights; bondholders could challenge impairment under Contract Clause.

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