UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): ~~March~~May 1615, 2023

Commission File Number		Exact name of registrant as specified in its charter, state of incorporation, address of principal executive offices, telephone		I.R.S. Employer Identification Number
1-4393		PUGET SOUND ENERGY, INC.		91-0374630

PUGET SOUND ENERGY, INC.

A Washington Corporation ~~355 110th Ave NE Bellevue, Washington 98004-5591 425-454-6363~~

(Exact name of registrant as specified in its charter)



1-4393	355 110th Ave NE Bellevue, WA 98004	91-0374630
(Commission File Number)	(State of incorporation, address of principal executive offices)	(I.R.S. Employer Identification Number)

(425) 454-6363

(Telephone)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

symbol(s)

Name of each exchange

on which registered

N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth ~~Company~~company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 51.0201. ~~Departure~~Entry ofinto ~~Directors~~a ~~and~~Material ~~Certain~~Definitive ~~Officers; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers~~Agreement.

On ~~March 16~~May 15, 2023, ~~Andrew~~Puget ~~Wappler~~Sound ~~notified~~Energy, Inc. entered into a purchase agreement (the “Purchase Agreement”) with Barclays Capital Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc., and each of the other underwriters named in Schedule A thereto (collectively, the “Underwriters”) in connection with the public offering by Puget Sound Energy of $400,000,000 ~~Inc~~principal amount of 5.448% Senior Notes due June 1, 2053 (the “~~Company~~Senior Notes”). ofThe ~~his~~Senior ~~intent~~Notes are to ~~retire~~be ~~from~~issued ~~his~~under ~~position~~an Indenture dated as ~~Senior~~of ~~Vice~~December ~~President~~1, ~~and~~1997, ~~Chief~~as ~~Customer~~supplemented ~~Officer~~by a Fifth Supplemental Indenture thereto, dated as of May 23, 2018, between the Company ~~effective~~and U.S. Bank National Association, as trustee. Puget Sound Energy intends to use the proceeds from the issuance to fund new or existing eligible projects under Puget Energy, Inc.’s new Sustainable Financing Framework. The issuance and sale of ~~April 3~~the Senior Notes to the underwriters is expected to close, subject to standard closing conditions, on May 18, 2023.

~~This~~The ~~Current~~Senior ~~Report~~Notes onwere ~~Form~~registered ~~8-K~~pursuant ~~includes~~to ~~forward-looking~~a ~~statements,~~registration ~~which~~statement ~~are~~(Registration ~~statements~~No. of333-266649) ~~expectations,~~on ~~beliefs,~~Form ~~plans,~~S-3 ~~objectives~~under ~~and~~the ~~assumptions~~Securities Act of ~~future~~1933 ~~events.~~that ~~Words~~Puget orSound ~~phrases~~Energy ~~such~~filed ason ~~“anticipates,”~~August ~~“believes~~8,” ~~“continues,”~~2022 ~~“could,”~~and ~~“estimates,”~~declared ~~“expects,”~~effective ~~“future,”~~on ~~“intends,”~~August ~~“may~~23,” ~~“might,”~~2022 ~~“plans,”~~(the “~~potential,”~~Registration ~~“predicts,~~Statement”). ~~“projects,”~~The ~~“should,”~~Registration ~~“will~~Statement ~~likely~~was ~~result,”~~supplemented ~~“will~~by ~~continue”~~a orProspectus ~~similar~~Supplement ~~expressions~~setting ~~are~~forth ~~intended~~the toterms ~~identify certain~~ of ~~these~~the ~~forward-looking~~Senior ~~statements~~Notes ~~and~~that ~~may~~Puget beSound ~~included~~Energy infiled ~~discussion~~with ~~of,~~the ~~among~~Commission ~~other~~on ~~things~~May 15, ~~our future expectations~~2023. ~~Forward-looking statements reflect current expectations and involve risks and uncertainties that could cause actual outcomes to differ materially from those expressed.~~

Initially, the Senior Notes will be secured by a series of Puget Sound Energy’s electric utility first mortgage bonds, referred to as “Pledged First Mortgage Bonds,” which are secured by the Company’s electric utility property. The Pledged First Mortgage Bonds will be issued under the Company’s First Mortgage, dated as of June 2, 1924, as supplemented by a Ninety-Second Supplemental Indenture thereto, dated as of May 1, 2013, between the Company and U.S. Bank National Association, as trustee.

The foregoing description of the Purchase Agreement is qualified in its entirety by reference to the Purchase Agreement, a copy of which is filed as Exhibit 1.1 to this Report.


Item 9.01.			Financial Statements and Exhibits

(d) Exhibits



Exhibit Number						Description

1.1						Purchase Agreement dated May 15, 2023, between Puget Sound Energy, Inc. Barclays Capital Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc. and each of the other underwriters named in Schedule A thereto.

104						Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the ~~registrants~~registrant ~~have~~has duly caused this report to be signed on ~~their~~its behalf by the undersigned hereunto duly authorized.

~~PUGET SOUND ENERGY, INC.~~

PUGET SOUND ENERGY, INC.

Dated: March 22, 2023

By:

/s/ Lorna Luebbe

Dated: May 18, 2023

By:

/s/ Cara Peterman

Name: Lorna Luebbe

Name:

Cara Peterman

~~Title:~~

~~Senior Vice President General Counsel and Chief Sustainability Officer~~

Title:

Corporate Treasurer

Filing Compare · PUGET SOUND ENERGY INC