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Debt and Credit Facilities | 6 Months Ended
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Jun. 30, 2019
Debt Disclosure [Abstract] |
Debt And Credit Facilities | DEBT AND CREDIT FACILITIES SUMMARY OF SIGNIFICANT DEBT ISSUANCES The following table summarizes significant debt issuances (in millions).
|  |  |  | Six Months Ended June 30, 2019 |
|  |  |  |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Maturity | Interest |  |  | Duke |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
Issuance Date | Date | Rate |  |  | Energy |  |  | (Parent) |  |  | Progress |  |  | Ohio |  |  | Piedmont |
Unsecured Debt |  |  |  |  |  |  |  |  |  |  |  |
March 2019(a) | March 2022 | 3.251 | % | (b) | $ | 300 |  |  | $ | 300 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
March 2019(a) | March 2022 | 3.227 | % |  | 300 |  |  | 300 |  |  | — |  |  | — |  |  | — |
May 2019(e) | June 2029 | 3.500 | % |  | 600 |  |  | — |  |  | — |  |  | — |  |  | 600 |
June 2019(a) | June 2029 | 3.400 | % |  | 600 |  |  | 600 |  |  | — |  |  | — |  |  | — |
June 2019(a) | June 2049 | 4.200 | % |  | 600 |  |  | 600 |  |  | — |  |  | — |  |  | — |
First Mortgage Bonds |  |  |  |  |  |  |  |  |  |  |  |
January 2019(c) | February 2029 | 3.650 | % |  | 400 |  |  | — |  |  | — |  |  | 400 |  |  | — |
January 2019(c) | February 2049 | 4.300 | % |  | 400 |  |  | — |  |  | — |  |  | 400 |  |  | — |
March 2019(d) | March 2029 | 3.450 | % |  | 600 |  |  | — |  |  | 600 |  |  | — |  |  | — |
Total issuances |  |  |  | $ | 3,800 |  |  | $ | 1,800 |  |  | $ | 600 |  |  | $ | 800 |  |  | $ | 600 |
(a) | Debt issued to pay down short-term debt and for general corporate purposes.
(b) | Debt issuance has a floating interest rate.
(c) | Debt issued to repay at maturity $450 million first mortgage bonds due April 2019, pay down short-term debt and for general corporate purposes.
(d) | Debt issued to fund eligible green energy projects in the Carolinas.
(e) | Debt issued to repay in full the outstanding $350 million Piedmont unsecured term loan due September 2019, pay down short-term debt and for general corporate purposes.
In June 2019, Duke Energy Kentucky priced $210 million of unsecured debentures of which $95 million carry a fixed interest rate of 3.23 percent and mature October 2025, $75 million carry a fixed interest rate of 3.56 percent and mature October 2029, and $40 million carry a fixed interest rate of 4.32 percent and mature July 2049. The $40 million tranche closed and funded in July 2019, and the remaining tranches are expected to close in September 2019 upon receipt of necessary regulatory approvals. The proceeds will be used to refinance Duke Energy Kentucky's $100 million, 4.65 percent debentures maturing October 2019, to pay down short-term intercompany debt and for general corporate purposes. CURRENT MATURITIES OF LONG-TERM DEBT The following table shows the significant components of Current Maturities of Long-Term Debt on the Condensed Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions) | Maturity Date |  | Interest Rate |  |  | June 30, 2019 |
Unsecured Debt |  |  |  |  |
Duke Energy (Parent) | September 2019 |  | 5.050 | % |  | $ | 500 |
Duke Energy Kentucky | October 2019 |  | 4.650 | % |  | 100 |
Progress Energy | December 2019 |  | 4.875 | % |  | 350 |
Duke Energy (Parent) | June 2020 |  | 2.100 | % |  | 330 |
First Mortgage Bonds |  |  |  |  |
Duke Energy Florida | January 2020 |  | 1.850 | % |  | 250 |
Duke Energy Florida | April 2020 |  | 4.550 | % |  | 250 |
Duke Energy Carolinas | June 2020 |  | 4.300 | % |  | 450 |
Other(a) |  |  |  |  | 468 |
Current maturities of long-term debt |  |  |  |  | $ | 2,698 |
(a) Includes finance lease obligations, amortizing debt and small bullet maturities. AVAILABLE CREDIT FACILITIES Master Credit Facility In March 2019, Duke Energy amended its existing $8 billion Master Credit Facility to extend the termination date to March 2024. The Duke Energy Registrants, excluding Progress Energy (Parent), have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. Duke Energy Carolinas and Duke Energy Progress are also required to each maintain $250 million of available capacity under the Master Credit Facility as security to meet obligations under plea agreements reached with the U.S. Department of Justice in 2015 related to violations at North Carolina facilities with ash basins. The table below includes the current borrowing sublimits and available capacity under the Master Credit Facility.
| June 30, 2019
|  |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  | Duke |  |  |
| Duke |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  | Energy |  |  |
(in millions) | Energy |  |  | (Parent) |  |  | Carolinas |  |  | Progress |  |  | Florida |  |  | Ohio |  |  | Indiana |  |  | Piedmont |
Facility size(a) | $ | 8,000 |  |  | $ | 2,650 |  |  | $ | 1,750 |  |  | $ | 1,250 |  |  | $ | 800 |  |  | $ | 450 |  |  | $ | 600 |  |  | $ | 500 |
Reduction to backstop issuances |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper(b) | (3,420 | ) |  | (1,009 | ) |  | (1,099 | ) |  | (276 | ) |  | (474 | ) |  | (236 | ) |  | (326 | ) |  | — |
Outstanding letters of credit | (53 | ) |  | (45 | ) |  | (4 | ) |  | (2 | ) |  | — |  |  | — |  |  | — |  |  | (2 | )
Tax-exempt bonds | (81 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (81 | ) |  | — |
Coal ash set-aside | (500 | ) |  | — |  |  | (250 | ) |  | (250 | ) |  | — |  |  | — |  |  | — |  |  | — |
Available capacity under the Master Credit Facility | $ | 3,946 |  |  | $ | 1,596 |  |  | $ | 397 |  |  | $ | 722 |  |  | $ | 326 |  |  | $ | 214 |  |  | $ | 193 |  |  | $ | 498 |
(a) | Represents the sublimit of each borrower.
(b) | Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies on the Condensed Consolidated Balance Sheets.
Other Credit Facilities
| June 30, 2019
(in millions) | Facility size |  |  | Amount drawn |
Duke Energy (Parent) Three-Year Revolving Credit Facility(a) | $ | 1,000 |  |  | $ | 500 |
Duke Energy Progress Term Loan Facility(b) | 700 |  |  | 700 |
(a) | In May 2019, Duke Energy (Parent) extended the termination date to May 2022.
(b) | $650 million was drawn under the term loan in January and February 2019.
In May 2019, the $350 million Piedmont term loan was paid off in full with proceeds from the $600 million Piedmont debt offering.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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