Duke Energy Corp. (DUKB, DUK-PA,DUK), an electric power and natural gas holding company, on Monday announced a proposed private offering of $1 billion of convertible senior notes due 2029.
The company said it intends to grant the initial purchasers an option to buy up to an additional $150 million of the notes within a 13-day period from the issuance date.
The company said the net proceeds will be used to repay at maturity its outstanding $1.725 billion aggregate principal amount of 4.125% convertible senior notes due April 15, and for general corporate purposes.
The notes will be direct, unsecured and unsubordinated obligations of the company and will be convertible into cash, shares of its common stock, or a combination of both, at the company's election.
In the pre-market trading, Duke Energy is 1.87% lesser at $130 on the New York Stock Exchange.
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