Duke Energy gets consent for planned subsidiary merger
Duke Energy Carolinas is expected to survive the January 1, 2027 combination with Duke Energy Progress.
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Rhea-AI Filing Summary
Duke Energy Corporation and its subsidiary borrowers entered into Amendment No. 4 and Consent to their Amended and Restated Credit Agreement; the lenders consented to a planned combination of Duke Energy Progress and Duke Energy Carolinas.
On January 1, 2027, the company expects to effect an internal reorganization in which Duke Energy Progress will merge into Duke Energy Carolinas, which will survive.
8-K Event Classification
Key Figures
Key Terms
Administrative Agent financial
Swingline Lender financial
surviving entity technical
FAQ
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What is Duke Energy (DUK)'s planned subsidiary combination?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
| Commission file number | Registrant,
State of Incorporation or Organization, |
IRS Employer Identification No. |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
| Registrant | Title of each class | Trading
Symbol(s) |
Name
of each exchange on which registered |
| Duke Energy | |||
| Duke Energy | |||
| Duke Energy | each representing a 1/1,000th interest in a share of 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share | ||
| Duke Energy | |||
| Duke Energy | |||
| Duke Energy | |||
| Duke Energy |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
| Item 1.01. | Entry into a Material Definitive Agreement. |
On November 9, 2026, Duke Energy Corporation (the “Corporation”), Duke Energy Carolinas, LLC (“Duke Energy Carolinas”), Duke Energy Florida, LLC, Duke Energy Indiana, LLC, Duke Energy Kentucky, Inc., Duke Energy Ohio, Inc., Duke Energy Progress, LLC (“Duke Energy Progress”), and Piedmont Natural Gas Company, Inc., entered into an Amendment No. 4 and Consent (the “Amendment”) to amend the existing Amended and Restated Credit Agreement dated as of March 18, 2022, among the Corporation and each of such subsidiaries, as Borrowers, the lenders listed therein, and Wells Fargo Bank, National Association, as Administrative Agent and Swingline Lender. On January 1, 2027, the Corporation expects to effect an internal reorganization of its wholly-owned subsidiaries, Duke Energy Carolinas and Duke Energy Progress, pursuant to which Duke Energy Progress will merge with and into Duke Energy Carolinas, with Duke Energy Carolinas as the surviving entity (the “Combination”). The Amendment, among other changes, obtains consent from each of the lenders to permit the Combination.
A copy of the Amendment is filed as Exhibit 10.1 hereto and is incorporated by reference herein. The foregoing description of the Amendment in this Item 1.01 is qualified in its entirety by reference to the full text of the Amendment.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 10.1 | Amendment No. 4 and Consent, dated as of November 9, 2026, by and among Duke Energy Corporation, Duke Energy Carolinas, LLC, Duke Energy Ohio, Inc., Duke Energy Indiana, LLC, Duke Energy Kentucky, Inc., Duke Energy Progress, LLC, Duke Energy Florida, LLC and Piedmont Natural Gas Company, Inc., the Lenders party thereto, the Issuing Lenders party thereto, and Wells Fargo Bank, National Association, as Administrative Agent and Swingline Lender. |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: November 9, 2026 | DUKE ENERGY CORPORATION | |
| DUKE ENERGY OHIO, INC. | ||
| PIEDMONT NATURAL GAS COMPANY, INC. | ||
| By: | /s/ Elizabeth H. Jones | |
| Elizabeth H. Jones | ||
| Assistant Corporate Secretary | ||
| DUKE ENERGY CAROLINAS, LLC | ||
| DUKE ENERGY PROGRESS, LLC | ||
| DUKE ENERGY FLORIDA, LLC | ||
| DUKE ENERGY INDIANA, LLC | ||
| By: | /s/ Elizabeth H. Jones | |
| Elizabeth H. Jones | ||
| Assistant Secretary |