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Clients rely on our Finance Group to help them navigate the business and legal complexities of novel and multi-dimensional debt financing transactions. Our versatile finance practitioners work closely with our mergers and acquisitions, securities, tax, real estate and bankruptcy lawyers to provide seamless advice and innovative solutions that address our clients' debt financing needs related to all types of transactions and capital structures.

RBC and Guggenheim Act as Joint Bookrunning Managers in $1.3 Billion Nuclear Asset-Recovery Bond Offering

Paul, Weiss clients RBC Capital Markets, LLC and Guggenheim Securities, LLC represented several underwriters in connection with a $1,294,290,000 nuclear asset-recovery bond issuance by Duke Energy Florida Project Finance, LLC, rated AAA(sf) by S&P, Moody's and Fitch. The bonds were issued pursuant to a Florida state statute and a financing order of the Florida Public Service Commission, which authorized the imposition and collection of nuclear asset-recovery charges on Duke Energy Florida customers in order to finance the retirement of the Crystal River 3 nuclear power plant located in Citrus County, Florida. The bond issuance was publicly registered and involved the first-ever filing of Form SF-1 with the SEC. One purpose of the Florida statute was to lower the cost to customers associated with the long-term financing of costs incurred in connection with the early retirement or abandonment of nuclear power plants.

The Paul, Weiss team included corporate partners Jordan Yarett and Lawrence Wee; bankruptcy partner Alice Eaton; and tax partner Richard Bronstein.

June 22, 2016

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