Duke Energy prices $1.75B equity units offering at $50/unit, settling into common stock in 2029

Filed August 12, 2026 · ~2 min read

Key Changes

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  Duke Energy is offering 35 million Corporate Units at $50 each ($1.75B total, $2.0B with full overallotment), structured as mandatory purchase contracts to buy Duke common stock on August 1, 2029 plus fractional interests in two series of remarketable senior notes. Net proceeds to the company are $1.7B.

  The Offering verify on EDGAR →
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  Each unit settles into 0.3301–0.4126 shares of Duke common stock depending on the stock price during a 20-day averaging period before settlement. Holders receive no equity appreciation unless the stock rises more than 25% above the $121.18 reference price; above that threshold, upside is capped at the minimum 0.3301 settlement rate.

  The Offering verify on EDGAR →
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  Net proceeds will redeem $500M of 3.25% junior subordinated debentures due 2082, repay a portion of $2.1B in outstanding commercial paper (3.91% weighted average rate), and fund general corporate purposes. Some underwriters hold the debt being redeemed.

  Use of Proceeds verify on EDGAR →