Duquesne Light Company
Overview
| Deal Type |
Private Placement |
|---|---|
| Size |
$130 Million First Mortgage Bonds |
| Client & Transactional Partners |
Duquesne Light Company |
| Our Role |
Joint Lead Placement Agent |
Summary
On September 13, 2022, Duquesne Light Company (DLC or the Company) closed on $130 million of privately placed 30-year First Mortgage Bonds. The Company will use the proceeds from the offering to repay existing indebtedness and for general corporate purposes, including capital expenditures. KeyBanc Capital Markets acted as Joint Lead Placement Agent on the transaction.
DLC is a private company engaged in the delivery of electricity, consisting in general of transmission and distribution service within southwestern Pennsylvania. The Company holds an exclusive geographic franchise to provide electric distribution services in Allegheny and Beaver Counties, including the City of Pittsburgh. The Company delivers electricity to approximately 600,000 customers, nearly 90% of which are residential customers, over a service territory of approximately 817 square miles.
