Deals this week: Duke Energy Corporation, Enel Green Power North America, Engie

9 March 2018 (Last Updated March 8th, 2018 09:48)

Duke Energy Corporation has proposed a public offering of 18.5 million shares of common stock to raise approximately $1.38bn in gross proceeds.

Duke Energy Corporation has proposed a public offering of 18.5 million shares of common stock to raise approximately $1.38bn in gross proceeds.

The shares are priced at $75 each and underwriters are granted a 30-day option to purchase an additional 2.775 million shares to cover any over-allotments.

The net proceeds of the sale are intended to be used for general corporate purposes such as acquisitions, debt repayment, capital expenditure and working capital.

Enel Green Power North America has reached an agreement to invest $400m in the 300MW Diamond Vista wind project to be developed with an estimated investment of $1.33m per MW.

Located in Marion County and Dickinson County in Kansas, US, the windfarm is owned by Enel Green Power North America’s subsidiary and financed through the group’s own resources.

The windfarm is expected to enter service by the end of 2018.

“An Hui Wenergy Company is planning to make a public offering of convertible bonds due 2024.”

Engie and Suez have partnered to develop 100 photovoltaic (PV) solar parks with a combined installed capacity of 1GW.

The solar farms will be installed in all recycling and recovery waste storage facilities in mainland France.

The first farm will be installed at the 12MW ground-mounted plant at the Drambon storage facility in the Côte-d’Or department in eastern France in 2018.

Engie is an electric utility company, while Suez is a water management and waste recovery services provider.

An Hui Wenergy Company is planning to make a public offering of convertible bonds due 2024.

The company intends to raise CNY4bn ($630.68m) through the offering.

Tennessee Valley Authority has announced a proposed public offering of series A global power bonds to raise $1bn in gross proceeds.

Due 15 March 2020, the bonds carry a coupon rate of 2.25%.

Interest on the bonds will be paid semi-annually on 15 March and 15 September of every year.

The proceeds are intended to refinance the company’s existing debt and for general power system purposes.

Based in the US, Tennessee Valley Authority is an electric utility company.

Huaneng Power International has raised CNY2bn ($315.2m) in a public offering of super short-term debentures.

Bearing an interest rate of 4.35%, the debentures are due June 2018 and represent the second tranche of public offerings by the company.

The proceeds are intended to be used to supplement the company’s working capital, adjust debt structure and repay debt financing instruments that are due.

Based in China, Huaneng Power International is a power generation company.