Duke Energy Corporation’s $3 Billion Senior Notes Offerings

Hunton Andrews Kurth advised Duke Energy Corporation on the deal.

Duke Energy Corporation (“Duke Energy”) announced the offerings of (i) $500 million aggregate principal amount of its Floating Rate Senior Notes due 2023, (ii) $1 billion aggregate principal amount of its 2.55% Senior Notes due 2031, (iii) $750 million aggregate principal amount of its 3.30% Senior Notes due 2041 and (iv) $750 million aggregate principal amount of its 3.50% Senior Notes due 2051. 

Duke Energy, together with its subsidiaries, is a diversified energy company headquartered in Charlotte, North Carolina with both regulated and unregulated utility operations. It 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 7.9 million customers within the Southeast and Midwest regions of the United States. Its gas utilities and infrastructure segment serves over 1.6 million customers, including more than 1.1 million customers located in North Carolina, South Carolina and Tennessee and an additional 541,000 customers located within southwestern Ohio and northern Kentucky. 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, distributed solar generation assets, distributed fuel cell assets and battery storage projects totaling 2,763 megawatts across 21 states from 21 wind facilities, 150 solar projects, 70 fuel cell locations and two battery storage facilities.

The Hunton Andrews Kurth team included Pete O’Brien (Picture), Christina Kwon, Brendan P. Harney and S. Ashley Jaber. Robert J. McNamara and Tim Strother provided tax advice.

Involved fees earner: Brendan Harney – Hunton Andrews Kurth LLP; Ashley Jaber – Hunton Andrews Kurth LLP; Christina Kwon – Hunton Andrews Kurth LLP; Robert McNamara – Hunton Andrews Kurth LLP; Peter O’Brien – Hunton Andrews Kurth LLP; Tim Strother – Hunton Andrews Kurth LLP;

Law Firms: Hunton Andrews Kurth LLP;

Clients: Duke Energy;

Author: Martina Bellini