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Duke Energy Corp. up 1.5% after Signing New Credit Agreement

Duke Energy Corp. ( DUK ) climbed 1.5% on the back of an announcement that it has entered into a new $6 billion, five-year credit agreement with 30 financial institutions. Under the new credit agreement, the company has immediate access to $4 billion, the other $2 billion will be made available following the successful closing of DUK's proposed merger with Progress Energy ( PGN ).

The agreement replaces Duke Energy's existing $3.14 billion credit facility, which was set to expire in June 2012, and three Progress Energy facilities totaling approximately $2 billion, which expire in 2012 and 2013.

Shares of DUK are within $1.00 of their 52-week high.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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