Summary
Duke Energy Corporation (DUK) filed an 8-K on June 16, 2008, to disclose the successful issuance and sale of $500 million in aggregate principal amount of senior notes. The offering consisted of $250 million of 5.65% Senior Notes due 2013 and $250 million of 6.25% Senior Notes due 2018. These notes were issued under an indenture dated June 3, 2008, as amended by a First Supplemental Indenture dated June 16, 2008. The issuance was conducted through an underwriting agreement with Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co., and Lehman Brothers Inc. as representatives of the underwriters. This filing provides investors with details on the terms of the debt offering, including the interest rates and maturity dates, as well as associated legal documentation. The company also filed a legal opinion regarding the validity of these newly issued securities.
Key Highlights
- 1Duke Energy issued $500 million in aggregate principal amount of senior notes.
- 2The offering was split equally between $250 million of 5.65% Senior Notes due 2013 and $250 million of 6.25% Senior Notes due 2018.
- 3The notes were sold to underwriters at a discount to their principal amount.
- 4The issuance was facilitated by an underwriting agreement with major financial institutions, including Credit Suisse, Goldman Sachs, and Lehman Brothers.
- 5The notes were issued pursuant to an Indenture dated June 3, 2008, and a First Supplemental Indenture dated June 16, 2008.
- 6A legal opinion confirming the validity of the securities was filed as part of the registration statement.
- 7This filing provides transparency into Duke Energy's debt financing activities and capital structure as of June 2008.