Evergy, Inc. — Form 8-K

Evergy, Inc. issued $600,000,000 aggregate principal amount of 6.40% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2057 on August 24, 2026. The notes bear interest at 6.40% annually through February 15, 2032, then reset every five years to the Five-year U.S. Treasury Rate plus 2.022% spread (minimum 6.40%). The company may defer interest payments for up to 20 consecutive periods and may redeem the notes at par plus accrued interest after the reset date, or at 100%-102% of par upon specified tax or rating agency events. The underwriting syndicate included BofA Securities, Goldman Sachs, Morgan Stanley, MUFG Securities, and Wells Fargo, with each of the five lead underwriters purchasing $72M and five additional underwriters purchasing $48M each.