Duke Energy CORP (DUK): debt financing — Duke Energy issues $1.725B of 4.125% Convertible Notes due 2026

Duke Energy CORP

Issued $1.725B aggregate principal of 4.125% Convertible Senior Notes due April 15, 2026.
Notes convertible into cash and/or DUK common stock at initial conversion price ~$118.86 (25% premium over April 3 close).
Initial conversion rate: 8.4131 shares per $1,000 principal; maximum shares issuable 18,140,618.
Sold in private offering under Rule 144A; proceeds not specified but presumably for general corporate purposes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Duke Energy CORP incurred convertible notes of $1,725,000,000 aggregate principal amount with The Bank of New York Mellon Trust Company, N.A., as trustee at 4.125% per year maturing April 15, 2026.

Instrument: convertible notes
Principal: $1,725,000,000 aggregate principal amount
Counterparty: The Bank of New York Mellon Trust Company, N.A., as trustee
Rate: 4.125% per year
Maturity: April 15, 2026
Event: incurrence

Exact text from the filing

On April 6, 2023, Duke Energy Corporation (the “Corporation”) completed the sale of $1,725,000,000 aggregate principal amount of 4.125% Convertible Senior Notes due 2026 (the “Notes”), which included an additional $225,000,00 aggregate principal amount of Notes purchased pursuant to the full exercise of the option granted to the Initial Purchasers (as defined herein) pursuant to the Purchase Agreement (as defined herein), in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).

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Source: SEC EDGAR

accession 0001104659-23-042547

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