Duke Energy Corporation’s 21,275,000 Shares of Common Stock Offering

Hunton & Williams LLP advised Duke Energy Corporation in connection with an SEC-registered offering of 21,275,000 shares of common stock of the Company (which included the underwriters’ full exercise of their over-allotment option to purchase an additional 2,775,000 shares of the Company’s common stock), which were borrowed from third parties by each of Credit Suisse Capital LLC and JPMorgan Chase Bank, National Association, London Branch, as forward counterparties, and subsequently sold to the underwriters for sale in the offering.

Duke Energy, together with its subsidiaries, is a diversified energy company headquartered in Charlotte, North Carolina with both regulated and unregulated utility operations. Duke Energy conducts its business through three operating business segments. Duke Energy’s electric utilities and infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 7.6 million customers within the Southeast and Midwest regions of the United States. Duke Energy’s gas utilities and infrastructure segment serves over 1.5 million customers, including more than 1 million customers located in North Carolina, South Carolina and Tennessee. Duke Energy’s commercial renewables segment primarily acquires, builds, develops and operates wind and solar renewable generation throughout the continental United States, with utility-scale wind and solar generation assets totaling 2,907 megawatts across 14 states from 21 wind farms and 63 solar farms.

Duke Energy Corporation, led by Lynn J Good, William Davis and Harry K Sideris, in 2017 recorded $24 Billion Revenues.

The Hunton & Williams team included Peter O’Brien, Christina Kwon, Andrew Spector, Patrick Jamieson and Soyung Kang. Joseph Buonanno provided advice on the forward component and Cary Tolley and Anna Page provided tax advice.


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Author: Ambrogio Visconti