Duke Energy said it priced an upsized private placement of $1,300,000,000 in principal amount of 3.000% Convertible Senior Notes due 2029 on March 10, 2026. The offering was increased from the $1,000,000,000 previously announced.

1. 01

   Duke Energy said it priced an upsized private placement of $1,300,000,000 in principal amount of 3.000% Convertible Senior Notes due 2029 on March 10, 2026. The offering was increased from the $1,000,000,000 previously announced.

2. 02

   The company said net proceeds are expected to be about $1.29 billion ($1.48 billion if the initial purchasers exercise their option to buy additional notes in full). It said it plans to use the proceeds to repay at maturity $1.725 billion of its 4.125% Convertible Senior Notes due April 15, 2026, including any cash due upon conversion, and for general corporate purposes.

3. 03

   The company said the initial conversion rate is 6.2277 shares of common stock per $1,000 principal amount of notes, an initial conversion price of about $160.57, representing a premium of about 22.50% over the last reported sale price on March 9, 2026. It said it will settle conversions by paying cash up to the principal amount and paying or delivering cash, shares of common stock, or a combination of both, at its election, for the remainder of its conversion obligation.

4. 04

   The company said the notes are senior unsecured obligations that mature on March 15, 2029 and bear a fixed interest rate of 3.000% per year, payable semiannually in arrears on March 15 and September 15, beginning on September 15, 2026. It said the sale is expected to close on March 12, 2026, subject to customary closing conditions.

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Original filing

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