Duke Energy Reports New Debt Issuances, Including 2078 Debentures

TL;DR

**Duke Energy just filed an 8-K, signaling new debt offerings, including long-term debentures due 2078.**

AI Summary

Duke Energy Corporation filed an 8-K on January 12, 2024, to report 'Other Events' and 'Financial Statements and Exhibits'. This filing indicates that Duke Energy is likely issuing new securities, specifically mentioning '5.625% Junior Subordinated Debentures Due September 15, 2078', 'Depositary Shares', '3.10% Senior Notes Due 2028', and '3.85% Senior Notes Due 2034'. This matters to investors because new debt issuances can impact the company's financial leverage, interest expenses, and potentially its credit rating, which in turn affects the stock's valuation and dividend sustainability.

Why It Matters

New debt issuances can alter Duke Energy's capital structure, affecting its financial risk profile and potentially its ability to fund future growth or maintain current dividend levels.

Risk Assessment

Risk Level: medium — The issuance of new debt, especially long-term, can increase financial leverage and interest payment obligations, posing a medium risk to the company's financial health if not managed effectively.

Analyst Insight

An investor should monitor subsequent filings for the specific terms and amounts of these new debt issuances to assess the impact on Duke Energy's balance sheet, cash flow, and overall financial health.

Key Players & Entities

• Duke Energy Corporation (company) — the registrant filing the 8-K
• 5.625% Junior Subordinated Debentures Due September 15, 2078 (dollar_amount) — a type of security mentioned in the filing
• 3.10% Senior Notes Due 2028 (dollar_amount) — a type of security mentioned in the filing
• 3.85% Senior Notes Due 2034 (dollar_amount) — a type of security mentioned in the filing
• January 12, 2024 (date) — date of the earliest event reported and filing date

FAQ

Key Financial Figures

• $0.001 — Duke Energy Corporation Common Stock, $0.001 par value DUK New York Stock Exchan
• $50,000,000 — ed to issue and sell to the Underwriter $50,000,000 aggregate principal amount of the Compa
• $100,000,000 — r Notes due 2027 (the "2027 Notes") and $100,000,000 aggregate principal amount of the Compa
• $550,000,000 — d are a part of the same series as, the $550,000,000 aggregate principal amount of the Compa

Filing Documents

• tm242317d5_8k.htm (8-K) — 41KB
• tm242317d5_ex5-1.htm (EX-5.1) — 23KB
• tm242317d5_ex99-1.htm (EX-99.1) — 186KB
• tm242317d5_8kimg001.jpg (GRAPHIC) — 13KB
• 0001104659-24-003582.txt ( ) — 559KB
• duk-20240112.xsd (EX-101.SCH) — 4KB
• duk-20240112_def.xml (EX-101.DEF) — 27KB
• duk-20240112_lab.xml (EX-101.LAB) — 40KB
• duk-20240112_pre.xml (EX-101.PRE) — 26KB
• tm242317d5_8k_htm.xml (XML) — 8KB

01. Other Events

Item 8.01. Other Events. On January 12, 2024, Duke Energy Corporation (the "Company") consummated the issuance and sale of the securities described below pursuant to an underwriting agreement, dated January 9, 2024 (the "Underwriting Agreement"), with Wells Fargo Securities, LLC, as underwriter (the "Underwriter"), pursuant to which the Company agreed to issue and sell to the Underwriter $50,000,000 aggregate principal amount of the Company's 4.850% Senior Notes due 2027 (the "2027 Notes") and $100,000,000 aggregate principal amount of the Company's 4.850% Senior Notes due 2029 (the "2029 Notes", and together with the 2027 Notes, the "Securities"). The terms of the 2027 Notes, other than their issue date and issue price, are identical to the terms of, and are a part of the same series as, the $550,000,000 aggregate principal amount of the Company's 4.850% Senior Notes due 2027 issued by the Company on January 5, 2024. The terms of the 2029 Notes, other than their issue date and issue price, are identical to the terms of, and are a part of the same series as, the $550,000,000 aggregate principal amount of the Company's 4.850% Senior Notes due 2029 issued by the Company on January 5, 2024. The Securities were sold to the Underwriter at discounts to their principal amounts. The Securities were issued pursuant to an Indenture, dated as of June 3, 2008 (the "Indenture"), by and between the Company and The Bank of New York Mellon Trust Company, N.A., as trustee (the "Trustee"), as amended and supplemented by various supplemental indentures thereto, including the Thirty-first Supplemental Indenture, dated as of January 5, 2024 (the "Supplemental Indenture"), between the Company and the Trustee. The disclosure in this Item 8.01 is qualified in its entirety by the provisions of the Indenture, the Supplemental Indenture, together with the forms of global notes evidencing the Securities included therein, which is filed as Exhibit 4.1 hereto, and the Underwriting Agreement, w

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. 4.1 Thirty-first Supplemental Indenture, dated as of January 5, 2024 , to the Indenture, dated as of June 3, 2008, between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee, and forms of global notes included therein (incorporated by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed on January 5, 2024, File No. 001-32853) 5.1 Opinion of Robert T. Lucas III regarding validity of the Securities 23.1 Consent of Robert T. Lucas III (included as part of Exhibit 5.1) 99.1 Underwriting Agreement, dated January 9, 2024, between the Company and Wells Fargo Securities, LLC, as underwriter 104 Cover Page Interactive Data file (the Cover Page Interactive Data file is embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DUKE ENERGY CORPORATION Date: January 12, 2024 By: /s/ Robert T. Lucas III Name: Robert T. Lucas III Title: Assistant Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR