---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-053909"
form_type: "8-K"
ticker: null
cik: "0001085392"
company_name: "PUGET ENERGY INC /WA"
filed_at: "2025-03-13T23:59:59+00:00"
generated_at: "2026-05-24T20:17:11.750804+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Puget Energy issues $600M of 5.725% senior secured notes due 2035

## Summary
- $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%.

## SEC filing metadata
- accession: 0001193125-25-053909
- form_type: 8-K
- cik: 0001085392
- company_name: PUGET ENERGY INC /WA
- filed_at: 2025-03-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1085392/000119312525053909/0001193125-25-053909-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1085392/000119312525053909/d879816d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-053909
- JSON: https://secwatch.observer/filing/0001193125-25-053909.json
- Plain text: https://secwatch.observer/filing/0001193125-25-053909.txt

## Key facts
- Debt Financings
  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
  source text: the Company issued $600 million principal amount of 5.725% senior secured notes due 2035
  evidence_url: https://www.sec.gov/Archives/edgar/data/1085392/000119312525053909/0001193125-25-053909-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.