PUGET ENERGY INC /WA: debt financing — Puget Energy issues $600M of 5.725% senior secured notes due 2035

PUGET ENERGY INC /WA

$600M of 5.725% senior secured notes due 2035 issued; interest payable semiannually starting Sept 15, 2025.
Proceeds to repay $400M of 3.650% notes maturing May 2025 and ~$190M on credit facility; remainder for general corporate purposes.
Notes secured by substantially all company assets, mainly equity in wholly owned Puget Sound Energy; equal ranking with other senior secured debt.
Offered via private placement under Rule 144A/Reg S; Registration Rights Agreement provides for exchange offer or shelf registration.
Make-whole call at Treasury+25 bps before Dec 2034; thereafter at par; change-of-control put at 101%.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

PUGET ENERGY INC /WA incurred senior notes of $600 million principal amount with Computershare Trust Company, National Association at 5.725% maturing March 15, 2035.

Instrument: senior notes
Principal: $600 million principal amount
Counterparty: Computershare Trust Company, National Association
Rate: 5.725%
Maturity: March 15, 2035
Event: incurrence

Exact text from the filing

the Company issued $600 million principal amount of 5.725% senior secured notes due 2035

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Source: SEC EDGAR

accession 0001193125-25-053909

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