01—Abstract
Summary
Summary of the 8-K filed April 5, 2024. Cited figures are marked; the original filing is the authoritative source.
Evergy, Inc. and its subsidiary Evergy Metro, Inc. filed this combined Current Report on Form 8-K to disclose that on April 5, 2024, Evergy Metro issued $300,000,000a aggregate principal amount of its 5.40% Mortgage Bonds, Series 2024 due 2034.
The bonds were issued under an Underwriting Agreement dated April 1, 2024 with MUFG Securities Americas Inc., PNC Capital Markets LLC, Regions Securities LLC and Truist Securities, Inc. acting as representatives of the underwriters, and were registered under the Securities Act of 1933 pursuant to a shelf registration statement on Form S-3 (333-259245-01) of Evergy Metro. The filing reports the debt issuance as an Item 8.01 (Other Events) disclosure. In connection with the sale, Evergy Metro entered into the agreements and instruments listed as exhibits, including the Twenty-first Supplemental Indenture dated April 5, 2024 with UMB Bank, N.A. as trustee, and a legal opinion from Heather A.
Humphrey, Senior Vice President, General Counsel and Corporate Secretary. These exhibits are incorporated by reference into the registration statement.
For investors, the key takeaway is the new $300 millionb, 10-year fixed-rate secured debt issuance by the utility subsidiary, carrying a 5.40% coupon. The filing itself does not describe the use of proceeds or other financial effects of the offering.
02—Key points
Key Highlights
- Evergy Metro, Inc. issued $300,000,000 aggregate principal amount of 5.40% Mortgage Bonds, Series 2024 due 2034 on April 5, 2024.
- The bonds were sold under an Underwriting Agreement dated April 1, 2024 with MUFG Securities Americas Inc., PNC Capital Markets LLC, Regions Securities LLC and Truist Securities, Inc. as representatives of the underwriters.
- The bonds were registered under the Securities Act of 1933 via Evergy Metro's Form S-3 shelf registration statement (333-259245-01).
- The Twenty-first Supplemental Indenture with UMB Bank, N.A., as trustee, governs the issuance and is dated April 5, 2024.
- The filing is a combined report for Evergy, Inc. and Evergy Metro, Inc., with information for each registrant filed solely on its own behalf.
- The disclosure is made under Item 8.01 (Other Events), with a legal opinion from the company's General Counsel filed as Exhibit 5.1.
03—Questions
Frequently Asked Questions
What securities were issued in this filing?
Evergy Metro, Inc. issued $300,000,000 aggregate principal amount of its 5.40% Mortgage Bonds, Series 2024 due 2034.
Who were the underwriters for the Mortgage Bonds?
The Underwriting Agreement dated April 1, 2024 was among Evergy Metro and MUFG Securities Americas Inc., PNC Capital Markets LLC, Regions Securities LLC and Truist Securities, Inc., as representatives of the several underwriters named in the agreement.
How were the Mortgage Bonds registered?
The bonds were registered under the Securities Act of 1933 pursuant to the shelf registration statement on Form S-3 (333-259245-01) of Evergy Metro.
Who is the trustee for the bonds?
UMB Bank, N.A. (formerly United Missouri Bank of Kansas City, N.A.) is the trustee under the Twenty-first Supplemental Indenture dated April 5, 2024.
Does the filing state how the proceeds will be used?
No. The filing describes the issuance, the underwriting arrangements, the registration and the exhibits, but does not state the intended use of the proceeds.
04—Continue