Duke Energy enters into $1 billion three-year credit agreement

By Marisa Wong

Morgantown, W.Va., June 14 – Duke Energy Corp. entered into a $1 billion credit agreement on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

Bank of Nova Scotia, PNC Capital Markets LLC, Sumitomo Mitsui Banking Corp. and TD Bank, NA are the joint lead arrangers and bookrunners with Scotiabank as administrative agent, PNC Bank, NA, Sumitomo Mitsui Banking and TD Bank as co-syndication agents and Bank of China, New York Branch, BNP Paribas, Santander Bank, NA and U.S. Bank NA as co-documentation agents.

The facility matures on June 14, 2020.

Borrowings will bear interest at Libor plus an applicable margin of 82.5 basis points to 132.5 bps, depending on the company’s credit ratings.

The credit agreement requires the company to maintain a ratio of consolidated debt to consolidated capitalization of no more than 65%.

Loan proceeds will be used for general corporate purposes.

The energy company is based in Charlotte, N.C.

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