---
schema_version: "secwatch.filing_event.v1"
accession: "0001031296-23-000041"
form_type: "8-K"
ticker: "FE"
cik: "0001031296"
company_name: "FIRSTENERGY CORP"
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T19:26:28.797675+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# FirstEnergy issues $1.5B of 4.00% convertible senior notes due 2026

## Summary
- Principal amount $1.5B (including $200M from full exercise of initial purchasers' option); net proceeds ~$1.48B.
- Notes bear 4.00% interest semi-annually, mature May 1, 2026; unsecured and unsubordinated.
- Initial conversion rate 21.3620 shares/$1,000 principal (~$46.81/share), ~20% premium over May 1 stock price.
- Proceeds to be used to refinance existing indebtedness, fund qualified pension plan, and general corporate purposes.
- Company may not redeem notes prior to maturity; holders may require repurchase at 100% plus interest upon fundamental change.

## SEC filing metadata
- accession: 0001031296-23-000041
- form_type: 8-K
- ticker: FE
- cik: 0001031296
- company_name: FIRSTENERGY CORP
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1031296/000103129623000041/0001031296-23-000041-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1031296/000103129623000041/fe-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001031296-23-000041
- JSON: https://secwatch.observer/filing/0001031296-23-000041.json
- Plain text: https://secwatch.observer/filing/0001031296-23-000041.txt

## Key facts
- Debt Financings
  FIRSTENERGY CORP incurred convertible notes of $1.5 billion aggregate principal amount at 4.00% per year maturing May 1, 2026.
  - Instrument: convertible notes
  - Principal: $1.5 billion aggregate principal amount
  - Rate: 4.00% per year
  - Maturity: May 1, 2026
  - Event: incurrence
  source text: On May 4, 2023, FirstEnergy Corp. (the “Company”) completed its previously announced offering of $1.5 billion aggregate principal amount of its 4.00% Convertible Senior Notes due 2026 (the “convertible notes”), which included $200 million aggregate principal amount of the convertible notes purchased pursuant to the full exercise of the option granted to the initial purchasers pursuant to the Purchase Agreement (the “Purchase Agreement”), dated May 1, 2023, among the Company and the initial purchasers party thereto.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031296/000103129623000041/0001031296-23-000041-index.htm
- Material Agreements
  FIRSTENERGY CORP entered into Indenture with The Bank of New York Mellon Trust Company, N.A. valued at $1.5 billion aggregate principal amount (effective 2023-05-04).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: The Bank of New York Mellon Trust Company, N.A.
  - Value: $1.5 billion aggregate principal amount
  - Effective: 2023-05-04
  source text: In connection with the issuance of the convertible notes, the Company entered into an Indenture, dated May 4, 2023 (the “Indenture”), with The Bank of New York Mellon Trust Company, N.A., as trustee.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1031296/000103129623000041/0001031296-23-000041-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.