Duke Energy Corporation (NYSE: DUK) announced the pricing of its offering of $1.3 billion aggregate principal amount of its 3.000% convertible senior notes due 2029 in a private placement under the Securities Act of 1933, as amended (the "Securities Act"). The size of the offering was increased from the previously announced $1 billion aggregate principal amount of convertible notes. Duke Energy also granted to the initial purchasers of the convertible notes an option to purchase up to an additional $200 million aggregate principal amount of the convertible notes for settlement within a 13-day period beginning on, and including, the date on which the convertible notes are first issued. The sale of the convertible notes is expected to close on March 12, 2026, subject to customary closing conditions.

Duke Energy expects that the net proceeds from the convertible notes will be approximately $1.29 billion (or $1.48 billion if the initial purchasers exercise their option to purchase additional convertible notes in full), after deducting the initial purchasers' discounts and commissions and offering expenses payable by Duke Energy. Duke Energy intends to use the net proceeds from the offering of the convertible notes to repay at maturity $1.725 billion aggregate principal amount of Duke Energy's outstanding 4.125% Convertible Senior Notes due April 15, 2026 (the "existing convertible notes"), including as applicable cash amounts due upon conversion thereof and for general corporate purposes.