Duke Energy Progress, a subsidiary of Duke Energy, completed a $700 million debt offering underwritten by seven minority, women and veteran-owned financial services firms (or MWVBEs), as part of the energy giant’s broader push for diversity and inclusion.

“As we look at recent events across our nation, engaging banks led by minority-owned professionals has never been more important,” Duke Energy’s CFO Steve Young said in a press release.

The diversity and inclusion (D&I) transaction is the fourth of its kind and is “another example of [its] long-standing commitment to diversity, inclusion and equity,” Young added.

The deal’s joint bookrunners included Citigroup, minority-owned firms Loop Capital Markets, Samuel A. Ramirez & Company, Inc., Mischler Financial Group, Inc., Great Pacific Securities, and Siebert Williams Shank & Co., along with veteran-owned Academy Securities and women-owned C.L. King & Associates, Inc.

“By doing business with minority-owned banks, Duke Energy is making a statement in the business community and positioning itself as a pacesetter by providing joint bookrunner opportunities for diverse firms,” Loop Capital Markets CEO Jim Reynolds said in a statement.

Reynolds praised Duke Energy for taking “deliberate steps to find ways to incorporate such firms into their transactions.”

“As an African-American owned financial services firm, we are proud of our expertise, caliber of service and the opportunity to expand our engagement with companies, large and small, and work in deal leadership roles on their capital-raising needs,” Reynolds added.

The proceeds from this bond offering will go toward repaying Duke Energy Progress’ outstanding borrowings related to its long term loan facility expiring in December.

Duke Energy’s stock was last trading down about 0.84 percent, or 69 cents, near $80.97 per share on Thursday.

The original press release is found here.