Duke Energy Progress Files 8-K

TL;DR

Duke Energy Progress filed an 8-K, check for storm funding updates.

AI Summary

Duke Energy Progress, LLC. filed an 8-K on September 25, 2025, reporting other events and financial statements. The filing involves Duke Energy Progress NC Storm Funding II LLC, indicating potential financial activities or disclosures related to storm funding. Specific details on the nature of these events or financial statements are not provided in the excerpt.

Why It Matters

This filing signals important corporate events or financial disclosures from Duke Energy Progress, LLC. and its subsidiary, Duke Energy Progress NC Storm Funding II LLC, which could impact investors and stakeholders.

Risk Assessment

Risk Level: low — The filing is a standard 8-K reporting form without immediate indication of significant negative events.

Key Players & Entities

• DUKE ENERGY PROGRESS, LLC. (company) — Filer
• Duke Energy Progress NC Storm Funding II LLC (company) — Related Company
• 0001104659-25-093433 (filing_id) — Accession Number
• 20250925 (date) — Filing Date

FAQ

Key Financial Figures

• $460,646,000 — ith respect to the purchase and sale of $460,646,000 of Series A Senior Secured Storm Recove

Filing Documents

• tm2521132d13_8k.htm (8-K) — 46KB
• tm2521132d13_ex1-1.htm (EX-1.1) — 233KB
• tm2521132d13_ex3-2.htm (EX-3.2) — 274KB
• tm2521132d13_ex4-1.htm (EX-4.1) — 771KB
• tm2521132d13_ex4-2.htm (EX-4.2) — 113KB
• tm2521132d13_ex10-1.htm (EX-10.1) — 382KB
• tm2521132d13_ex10-2.htm (EX-10.2) — 164KB
• tm2521132d13_ex10-3.htm (EX-10.3) — 63KB
• tm2521132d13_ex10-4.htm (EX-10.4) — 99KB
• tm2521132d13_ex10-5.htm (EX-10.5) — 25KB
• 0001104659-25-093433.txt ( ) — 2784KB
• duk-20250922.xsd (EX-101.SCH) — 3KB
• duk-20250922_def.xml (EX-101.DEF) — 26KB
• duk-20250922_lab.xml (EX-101.LAB) — 35KB
• duk-20250922_pre.xml (EX-101.PRE) — 24KB
• tm2521132d13_8k_htm.xml (XML) — 7KB

01. Other Events

Item 8.01. Other Events On September 23, 2025, Duke Energy Progress, LLC (the "Utility") and Duke Energy Progress NC Storm Funding II LLC (the "Issuing Entity") entered into an Underwriting Agreement (the "Underwriting Agreement") with RBC Capital Markets, LLC and Barclays Capital Inc. as representatives of the underwriters with respect to the purchase and sale of $460,646,000 of Series A Senior Secured Storm Recovery Bonds (the "Storm Recovery Bonds"), to be issued by the Issuing Entity pursuant to an Indenture by and among the Issuing Entity and U.S. Bank Trust Company, National Association, as Indenture Trustee, and U.S. Bank National Association, as Securities Intermediary and Account Bank, to be dated as of September 30, 2025 as supplemented by the Series Supplement to be dated as of September 30, 2025 (together, the "Indenture"), which are annexed hereto as Exhibits 4.1 and 4.2, respectively, to this Current Report on Form 8-K. The Storm Recovery Bonds were offered pursuant to the prospectus dated September 23, 2025 (the "Prospectus"). In connection with the issuance of the Storm Recovery Bonds, the Utility and the Issuing Entity also expect to enter into a Storm Recovery Property Servicing Agreement, Storm Recovery Property Purchase and Sale Agreement, Administration Agreement, Intercreditor Agreement and Joinder to an existing amended and restated intercreditor agreement, dated December 20, 2013, which together with the Underwriting Agreement, are annexed hereto as Exhibits 10.1, 10.2, 10.3, 10.4 and 10.5, respectively, to this Current Report on 8-K. Additionally, effective as of September 22, 2025, the Issuing Entity adopted an Amended and Restated Limited Liability Company Agreement (the "A&R LLC Agreement") in connection with the issuance of the Storm Recovery Bonds. The A&R LLC Agreement, which is described in the Prospectus, was previously approved by the Utility, the sole member of the Issuing Entity. The description of the A&R LLC Agreement in the

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 1.1 Underwriting Agreement among Duke Energy Progress NC Storm Funding II LLC, Duke Energy Progress, LLC, RBC Capital Markets, LLC and Barclays Capital Inc., dated September 23, 2025 3.2 Amended and Restated Limited Liability Company Agreement, dated as of September 22, 2025, of Duke Energy Progress NC Storm Funding II LLC 4.1 Form of Indenture by and among Duke Energy Progress NC Storm Funding II LLC, U.S. Bank Trust Company, National Association, as indenture trustee and U.S. Bank National Association, as securities intermediary and account bank (including forms of the Senior Secured Storm Recovery Bonds) to be dated as of September 30, 2025 4.2 Form of Series Supplement between Duke Energy Progress NC Storm Funding II LLC and the Indenture Trustee, to be dated as of September 30, 2025 10.1 Form of Storm Recovery Property Servicing Agreement between Duke Energy Progress NC Storm Funding II LLC and Duke Energy Progress, LLC, as Servicer, to be dated as of September 30, 2025 10.2 Form of Storm Recovery Property Purchase and Sale Agreement between Duke Energy Progress NC Storm Funding II LLC and Duke Energy Progress, LLC, as Seller, to be dated as of September 30, 2025 10.3 Form of Administration Agreement between Duke Energy Progress NC Storm Funding II LLC and Duke Energy Progress, LLC, as Administrator, to be dated as of September 30, 2025 10.4 Form of Amended and Restated Intercreditor Agreement, among Duke Energy Progress, LLC, Duke Energy Progress NC Storm Funding II LLC, Duke Energy Progress NC Storm Funding, LLC, Duke Energy Progress SC Storm Funding LLC, U.S. Bank Trust Company, National Association (as trustee for Duke Energy Progress SC Storm Funding LLC), U.S. Bank Trust Company, National Association (as trustee for the Issuing Entity), and The Bank Of New York Mellon Trust Company, National Association (as trustee for Duke Energy Progr

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. DUKE ENERGY PROGRESS, LLC By: /s/ Elizabeth H. Jones Elizabeth H. Jones Dated: September 25, 2025 Assistant Secretary DUKE ENERGY PROGRESS NC STORM FUNDING II LLC By: /s/ Elizabeth H. Jones Elizabeth H. Jones Dated: September 25, 2025 Secretary

View Full Filing

View this 8-K filing on SEC EDGAR