Will use proceeds to reduce outstanding commercial paper and to fund general corporate purposes.
Term loan pact includes a provision to increase the amount available by up to $500M.
As of March 19, 2020, Duke had ~$1.9B of cash on hand and $4.4B available under its $8.0B master credit facility.
Has additional $2.5B liquidity available under outstanding equity forward agreements.
Sees its liquidity sufficient to support is funding needs.