Duke Energy Corporation completed a convertible senior notes offering, raising $1.3 billion after upsizing the deal from its original $1 billion target. The notes are scheduled to mature in 2029.

The utility company initially announced plans for a $1 billion convertible senior notes offering but later increased the size of the offering by $300 million due to investor demand. Convertible notes allow holders to convert their debt securities into company stock under certain conditions.

The proceeds from the offering will provide Duke Energy with additional capital flexibility as the company continues to invest in its energy infrastructure and transition initiatives. Duke Energy is one of the largest electric power companies in the United States, serving approximately 8.2 million customers across six states in the Southeast and Midwest.

The successful completion of the upsized offering reflects investor confidence in Duke Energy's financial position and business strategy. The 2029 maturity date gives the company a five-year term for the convertible debt instrument.