Duke Energy plans offering of senior notes due 2033, 2053

By Mary-Katherine Stinson

Lexington, Ky., Sept. 5 – Duke Energy Corp. is offering senior notes due Sept. 15, 2033 and Sept. 15, 2053, according to a 424B5 filing with the Securities and Exchange Commission.

The notes feature a make-whole call and a par call beginning three months before maturity, on June 15, 2033, and six months before maturity, on March 15, 2053, respectively.

BMO Capital Markets Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, Mizuho Securities USA LLC, RBC Capital Markets, LLC and Truist Securities, Inc. are the joint bookrunning managers for the offering. BNP Paribas Securities Corp., MUFG Securities Americas Inc., Santander US Capital Markets LLC, Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc. are also listed as bookrunners.

Bank of New York Mellon Trust Co., NA is the trustee.

Duke Energy will be advised by in-house counsel and Hunton Andrews Kurth LLP. Sidley Austin LLP is counsel to the underwriters.

It is expected that the sale of each series of the notes will take place concurrently. However, the sales of the 2033 notes and the 2053 notes are not conditioned upon each other.

Funds will be used to repay two series of notes at maturity and to repay a portion of the company’s outstanding commercial paper and for general corporate purposes. On Aug. 23, Duke Energy had approximately $2.6 billion of commercial paper outstanding with a weighted average interest rate of approximately 5.5% per year.

Charlotte, N.C.-based Duke Energy Corp. is a diversified energy company with both regulated and unregulated utility operations.

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