Summary
Dominion Resources, Inc. (now Dominion Energy, Inc.) filed an 8-K on December 13, 2002, to report on the issuance of new senior notes. The company entered into an underwriting agreement on December 9, 2002, with several financial institutions, including J.P. Morgan Securities Inc., for the sale of $300 million in 5.125% Senior Notes due 2009 and $300 million in 6.75% Senior Notes due 2032. These notes are part of a larger $4.5 billion shelf registration previously declared effective in August 2002. This issuance signifies Dominion's ongoing efforts to manage its capital structure and fund its operations and growth initiatives through debt financing. Investors should note the specific interest rates and maturity dates of these new notes, as they represent a significant portion of the company's outstanding debt. The filing also includes details on the supplemental indentures governing these notes and an escrow deposit agreement, providing transparency on the terms and conditions of this debt offering.
Key Highlights
- 1Dominion Resources, Inc. issued $600 million in new senior notes on December 9, 2002.
- 2The issuance comprises $300 million of 5.125% Senior Notes due 2009 and $300 million of 6.75% Senior Notes due 2032.
- 3The notes were sold under an underwriting agreement with a syndicate led by J.P. Morgan Securities Inc.
- 4This debt issuance is part of a previously established $4.5 billion shelf registration effective August 9, 2002.
- 5The filing includes supporting documentation such as the underwriting agreement and supplemental indentures.
- 6An escrow deposit agreement with JPMorgan Chase Bank is also noted, indicating potential use of escrow for proceeds or other purposes.