Duke Energy announces proposed offering of $1 billion of convertible senior notes due 2029

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• Duke Energy intends to use the net proceeds from the offering to repay at maturity $1.725 billion aggregate principal amount of outstanding 4.125% Convertible Senior Notes due April 15, 2026, including cash amounts due upon conversion and for general corporate purposes

  80% confidence

• Duke Energy intends to offer $1 billion aggregate principal amount of convertible senior notes due 2029 in a private placement, subject to market and other conditions

  80% confidence

• Duke Energy understands that many holders of the existing convertible notes employ a convertible arbitrage strategy with short positions in Duke Energy's common stock that they may close in connection with the maturity of the existing convertible notes

  80% confidence

• The convertible notes will be direct, unsecured and unsubordinated obligations of Duke Energy, convertible at the option of holders upon satisfaction of certain conditions and during certain periods

  80% confidence

• Interest on the convertible notes will be payable semiannually in arrears

  80% confidence

• Convertible arbitrage activity could increase (or reduce the size of any decrease in) the market price of Duke Energy's common stock on each trading day of the observation period and could increase the effective conversion price for the convertible notes

  80% confidence

• Duke Energy will settle conversions by paying cash up to the aggregate principal amount and paying or delivering cash, shares of common stock, or a combination thereof at its election for the remainder of conversion obligation

  80% confidence

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