Evergy, Inc. Issues $600M Notes; Terminates $500M Term Loan

What Happened Evergy, Inc. announced on August 24, 2026 that it issued $600,000,000 of 6.40% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 and, on the same date, terminated a $500 million Term Loan Credit Agreement (originally dated February 11, 2026, and maturing February 10, 2027). The notes were sold under an underwriting agreement led by BofA Securities, Goldman Sachs, Morgan Stanley, MUFG Securities and Wells Fargo Securities and were registered under the company’s Form S-3 registration statement.

Key Details

• Issuance: $600,000,000 aggregate principal of 6.40% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057.
• Underwriters: BofA Securities, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., and Wells Fargo Securities, LLC (representatives).
• Term loan termination: $500,000,000 Term Loan Credit Agreement dated Feb 11, 2026 (maturity Feb 10, 2027) was terminated on Aug 24, 2026 with no early termination penalties.
• Regulatory filings: Notes registered on the company’s Form S-3 (File No. 333-281614); legal opinions relating to the notes and tax matters were filed as exhibits to the 8-K for incorporation into the registration statement.

Why It Matters These actions change Evergy’s near- and long-term capital structure: the company added $600M of long-dated subordinated debt (due 2057) while eliminating a $500M short-term credit facility that would have matured in early 2027. For investors, that means higher long-term debt outstanding (junior in priority to senior debt) and predictable coupon obligations at 6.40% (about $38.4M in annual cash interest on the $600M, before any reset mechanics), alongside reduced short-term borrowing commitments and no early-termination costs for the loan.