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Duke Energy completes offering of 1 million preferred shares

Duke Energy Corp. completed the offering of 1 million series B 4.875% fixed rate reset cumulative perpetual preferred shares, at a par value of 0.1 cent per share.

The preferred shares have a liquidation preference of $1,000 per share.

The company intends to use net proceeds to repay a portion of its outstanding commercial paper, $500 million of its outstanding 5.05% senior notes due Sept. 15 and for general corporate purposes.

Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC acted as representatives of the several underwriters.