Duke Energy files automatic shelf covering floating-rate demand notes

By Devika Patel

Knoxville, Tenn., April 4 - Duke Energy Corp. filed a variable denomination floating-rate demand notes automatic shelf registration in an S-3 ASR filing with the Securities and Exchange Commission.

The company said in a press release that the new notes, or PremierNotes, will pay a floating rate of interest that provides a competitive alternative to other short-term cash investments such as bank accounts and short-term certificates of deposit.

The interest rate for PremierNotes will be set at least a quarter of a percentage point higher than the average rate of taxable U.S. money-market mutual funds, based on published weekly rates.

Investors may buy between $1,000 and $250,000 of notes and will receive services such as free check-writing and transfers to and from linked checking accounts. There are no maintenance fees or check fees for redemption checks of $250 or more and PremierNotes investments are fully redeemable on demand.

Proceeds will be used for general corporate purposes.

Duke Energy is an electric company based in Charlotte, N.C.

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