Duke Energy Announces Upsized Private Placement of $1.3 Billion Convertible Notes

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The offering includes an option for initial purchasers to buy an additional $200 million in notes. Duke Energy intends to use the net proceeds of approximately $1.29 billion (or $1.48 billion with the option exercised) to repay $1.725 billion of existing convertible notes due April 15, 2026, and for general corporate purposes. The new notes are senior unsecured obligations, convertible into common stock at an initial rate of 6.2277 shares per $1,000 principal amount, representing a premium of about 22.50% over the recent stock price. This transaction is expected to close on March 12, 2026, subject to conditions.

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About Duke Energy Corporation

Duke Energy Corporation is an American energy company with a focus on electric power generation and distribution. It stands as one of the largest electric power holding companies in the United States, servicing around 7.9 million customers across six states in the South and Midwest. With a diversified energy portfolio, Duke Energy operates an array of power plants including coal, natural gas, hydroelectric, and increasingly, renewable energy sources like wind and solar. This diversification enhances its resilience and ability to adapt to the evolving energy landscape. Duke Energy's primary role is generating, transmitting, and distributing electricity, it also makes strides in natural gas distribution and achieving carbon neutrality, with ambitious goals to reduce carbon emissions. The company plays a pivotal role in shaping energy policy and pursuing sustainable energy solutions, thereby impacting both economic growth and environmental stewardship across regions it serves. Headquartered in Charlotte, North Carolina, Duke Energy is integral to the energy infrastructure, influencing sectors from residential and commercial electricity to industrial energy needs.