WASHINGTON (dpa-AFX) - Duke Energy Corp. (DUK), on Tuesday priced an offering of $1.3 billion aggregate principal amount of 3.000% convertible senior notes due 2029 in a private placement, increasing the size from the previously announced $1 billion.
The offering is expected to close on March 12.
The company said that the initial purchasers were granted a 13-day option to buy up to an additional $200 million of the notes.
The company said net proceeds are expected to be about $1.29 billion, or approximately $1.48 billion if the option is exercised in full.
The proceeds will be used to repay at maturity the company's $1.725 billion of 4.125% convertible senior notes due April 15, including any cash payable upon conversion, with the remainder for general corporate purposes.
The notes will mature on March 15, 2029 and will bear interest at 3.000% per year, payable semiannually on March 15 and September 15 beginning September 15.
The notes will initially be convertible at a rate of 6.2277 shares of common stock per $1,000 principal amount, equivalent to an initial conversion price of about $160.57 per share, representing a 22.5% premium to the company's last reported share price on March 9.
In the pre-market trading, Duke Energy is 0.06% lesser at $131.02 on the New York Stock Exchange.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
