September 8, 2023
Hunton Andrews Kurth LLP advised Duke Energy Corporation (“Duke Energy”) in connection with SEC-registered offerings of: (i) $600 million aggregate principal amount of 5.75% Senior Notes due 2033 and (ii) $750 million aggregate principal amount of 6.10% Senior Notes due 2053.
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 8.2 million customers within the Southeast and Midwest regions of the United States. Its gas utilities and infrastructure segment has over 1.6 million customers, including more than 1.1 million customers located in North Carolina, South Carolina and Tennessee and an additional 550,000 customers located within southwestern Ohio and northern Kentucky.
Duke Energy’s commercial renewables segment primarily acquires, develops, builds, operates and owns wind and solar renewable generation throughout the continental U.S. Duke Energy’s commercial renewables segment also enters into strategic transactions including minority ownership and tax equity structures in wind and solar generation. The portfolio includes nonregulated renewable energy and energy storage businesses. In November 2022, Duke Energy’s board of directors committed to a plan to sell the commercial renewables segment, excluding the offshore wind lease for Carolina Long Bay. Duke Energy expects to close the transactions related to the sale in the second half of 2023.
The Hunton Andrews Kurth team included Peter K. O’Brien, Brendan P. Harney, Reuben H. Pearlman and Thomas C. White. Robert McNamara, William Freeman and Drew Hermiller provided tax advice.