8-K filed March 27, 2026, 7:59 PM ET CIK 0001085392

debt confidence high sentiment neutral materiality 0.65

Puget Energy issues $900M in junior subordinated notes due 2056

PUGET ENERGY INC /WA

Issued $450M of 7.000% Series A notes and $450M of 7.250% Series B notes, both due Sept 15, 2056.
Proceeds used to repay ~$430M of senior secured credit facility and for general corporate purposes.
Notes are unsecured junior subordinated obligations, ranking junior to all senior indebtedness.
Interest rates reset after initial periods (2031 for Series A, 2036 for Series B) with floors at initial rates.
Registration Rights Agreement requires exchange offer; failure triggers additional interest up to 1% per annum.

item 1.01 item 2.03 item 8.01 item 9.01

Machine-readable event card

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accession: 0001193125-26-128936
form_type: 8-K
ticker: null
cik: 0001085392
company_name: PUGET ENERGY INC /WA
filed_at: 2026-03-27T23:59:59+00:00
discovered_at: 2026-05-14T18:02:34.520699+00:00
generated_at: 2026-05-15T08:31:41.494921+00:00
sec_items: ["1.01", "2.03", "8.01", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: high
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Source-grounded claims

350dcf7fba9dd56d37cbb0aca8be187f51e24812

PUGET ENERGY INC /WA incurred senior notes of $450,000,000 aggregate principal amount of 7.000% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, Series A with Computershare Trust Company, National Association, as trustee at 7.000% per annum from March 27, 2026 to September 15, 2031, thereafter Five-Year maturing September 15, 2056.

the Company issued $450,000,000 aggregate principal amount of 7.000% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, Series A (the “Series A Notes”) and $450,000,000 aggregate principal amount of 7.250% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, Series B (the “Series B Notes” and together with the Series A Notes, the “Notes”).

SEC 8-K Item 2.03/2.04 confidence 0.95 SEC evidence

c8c6cccc40b9a141a1d6218e9b40dbd83b59270f

PUGET ENERGY INC /WA incurred senior notes of $450,000,000 aggregate principal amount of 7.250% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, Series B with Computershare Trust Company, National Association, as trustee at 7.250% per annum from March 27, 2026 to September 15, 2036, thereafter Five-Year maturing September 15, 2056.

the Company issued $450,000,000 aggregate principal amount of 7.000% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, Series A (the “Series A Notes”) and $450,000,000 aggregate principal amount of 7.250% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2056, Series B (the “Series B Notes” and together with the Series A Notes, the “Notes”).

SEC 8-K Item 2.03/2.04 confidence 0.95 SEC evidence

2763c099d35829eb11059e9c758425356b2db0fd

PUGET ENERGY INC /WA entered into Registration Rights Agreement with Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and Wells Fargo Securities, LLC (effective 2026-03-27).

On March 27, 2026, in connection with the issuance of the Notes, the Company agreed, pursuant to a Registration Rights Agreement (the “Registration Rights Agreement”), among the Company and Barclays Capital Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, and Wells Fargo Securities, LLC and each of the other initial purchasers named in Schedule A (the “Initial Purchasers”) to the Purchase Agreement dated March 24, 2026 among the Company and the Initial Purchasers (the “Purchase Agreement”), to register the Notes under the Securities Act so as to allow holders

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

b6108532d3039617f5e44511afd0473d86c1e08c

PUGET ENERGY INC /WA entered into Junior Subordinated Indenture with Computershare Trust Company, National Association valued at $450,000,000 aggregate principal amount of 7.000% Fixed-to-Fixed Reset Rate Junior Subordinated Note (effective 2026-03-27).

On March 27, 2026, Puget Energy, Inc. (the “Company”) entered into a Junior Subordinated Indenture, dated as of March 27, 2026 (the “Base Indenture”), as supplemented by the First Supplemental Indenture dated as of March 27, 2026 (the “Supplemental Indenture” and together with the Base Indenture, the “Indenture”), with Computershare Trust Company, National Association, as trustee.

SEC 8-K Item 1.01/1.02 confidence 0.9 SEC evidence

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Source: SEC EDGAR

accession 0001193125-26-128936

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