...April 3, 2023 NEW YORK (S&P Global Ratings) April 3, 2023--S&P Global Ratings today assigned its '###' issue-level rating to Duke Energy Corp.'s $1.5 billion convertible senior notes due April 15, 2026, based on our review of the proposed terms and conditions. The notes are being offered through a private placement to qualified institutional buyers. The convertible notes will be senior unsecured obligations. In addition, Duke expects to offer an option to initial subscribers to purchase an additional $225 million in aggregate principal amount within 13 days of initial issue. We rate the notes in line with our '###' issue-level rating on Duke's senior unsecured debt. The company intends to use the proceeds primarily to repay a portion of its outstanding commercial paper borrowings and for general corporate purposes. We do not assess the convertible notes as a hybrid security because of the lack of deferability features, as defined in our criteria....
