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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) March 8, 1999
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DUKE ENERGY CORPORATION
(Exact name of registrant as specified in its charter)
North Carolina 1-4928 56-0205520
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
526 South Church Street
Charlotte, North Carolina 28201-1006
(Address of principal executive offices) (Zip Code)
(704) 594-6200
(Registrant's telephone number, including area code)
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Not applicable
(Former name or address, if changed since last report)
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Item 5. Other Events.
On March 8, 1999, Duke Energy Corporation (the "Corporation")
entered into an Underwriting Agreement covering the issue and sale by the
Corporation of $200,000,000 aggregate principal amount of its Series C 6.60%
Senior Notes Due 2038 (the "Series C Senior Notes"). Said Notes were registered
under the Securities Act of 1933, as amended (the "Securities Act"), pursuant to
the shelf registration statement (Registration Statement No. 333-14209, which
also constitutes a Post-Effective Amendment to two previous Registration
Statements Nos. 33-50543 and 333-02571) of the Corporation.
Incorporation of Certain Documents by Reference
Pursuant to Rule 411 of Regulation C under the Securities Act,
the Corporation does hereby incorporate by reference the consolidated financial
statements of MBIA Insurance Corporation and Subsidiaries as of December 31,
1997 and December 31, 1996 and for each of the three years in the period ended
December 31, 1997, included in the Annual Report on Form 10-K of MBIA Inc.
(which was filed with the Securities and Exchange Commission on March 30, 1998)
into (i) this Current Report on Form 8-K; (ii) the Corporation's Registration
Statement on Form S-3 (Registration Statement No. 333-14209, which also
constitutes a Post-Effective Amendment to two previous Registration Statements
Nos. 33-50543 and 333-02571) and (iii) the Prospectus Supplement dated March 8,
1999 relating to the Series C Senior Notes filed pursuant to Rule 424(b) under
the Securities Act.
In connection with the incorporation of such documents by
reference, the Corporation is hereby filing the consent of
PricewaterhouseCoopers LLP, independent accountants for MBIA Insurance
Corporation, insurer of the Series C Senior Notes, to the use of its name and
the incorporation by reference of their report in such Prospectus Supplement.
The consent of PricewaterhouseCoopers LLP is filed herewith as Exhibit 23(A)-3.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits.
23(A)-3 Consent of PricewaterhouseCoopers LLP
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SIGNATURES
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 thereunto duly authorized.
DUKE ENERGY CORPORATION
By: /s/ Richard J. Osborne
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Name: Richard J. Osborne
Title: Executive Vice President
and Chief Financial Officer
Dated: March 10, 1999
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EXHIBIT 23(A)-3
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in the Prospectus Supplement of
Duke Energy Corporation relating to Series C Senior Notes, of our report dated
February 3, 1998, on our audits of the consolidated financial statements of MBIA
Insurance Corporation and Subsidiaries as of December 31, 1997 and 1996 and for
each of the three years in the period ended December 31, 1997. We also consent
to the reference to our firm under the caption "Experts."
PricewaterhouseCoopers LLP
March 8, 1999
