Evergy, Inc. filed a current report on August 24, 2026, disclosing the issuance of $600 million in junior subordinated notes due 2057 and the simultaneous termination of a $500 million term loan credit agreement with no early termination penalties.

Key Highlights

  • $600 million notes issued: Evergy issued $600,000,000 in aggregate principal amount of 6.40% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057.
  • Term loan terminated: The company terminated its $500 million Term Loan Credit Agreement, originally dated February 11, 2026, which was set to mature on February 10, 2027.
  • No termination penalties: According to the filing, the company incurred no early termination penalties as a result of the term loan termination.
  • Underwriting agreement: The notes were issued pursuant to an Underwriting Agreement dated August 17, 2026, with BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., and Wells Fargo Securities, LLC as representatives.
  • Registered offering: The notes were registered under the Securities Act of 1933 via a Form S-3 registration statement filed August 16, 2024 (File No. 333-281614).

Evergy Refinances with Junior Subordinated Notes and Exits Term Loan

Evergy, Inc. (NASDAQ:EVRG), headquartered in Kansas City, Missouri, disclosed two related transactions on August 24, 2026. The company issued $600,000,000 in aggregate principal amount of 6.40% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057. The notes were offered pursuant to an Underwriting Agreement dated August 17, 2026, with five underwriter representatives: BofA Securities, Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., and Wells Fargo Securities, LLC.

On the same date, the company terminated its $500 million Term Loan Credit Agreement, which had been entered into on February 11, 2026, with Wells Fargo Bank, N.A. serving as administrative agent. That agreement had been scheduled to mature on February 10, 2027. The filing states that the company incurred no early termination penalties as a result of such termination.

In connection with the note issuance, the company entered into Supplemental Indenture No. 5, dated August 24, 2026, to the Subordinated Indenture originally dated May 18, 2009, between Evergy, Inc. (as successor to Great Plains Energy Incorporated) and The Bank of New York Mellon Trust Company, N.A., as trustee. Legal opinions regarding the validity of the notes and certain tax matters were provided by Hunton Andrews Kurth LLP and incorporated by reference into the registration statement.

What Was Disclosed

Evergy disclosed the August 24, 2026 issuance of $600 million in 6.40% junior subordinated notes due 2057 and the termination of its $500 million term loan, with no early termination penalties incurred, in a current report filed that same date.