8-KOther Events

DOMINION ENERGY, INC 8-K Report (Jan 14, 2004)

Filed January 14, 2004For Securities:D

Summary

Dominion Energy, Inc. (then Dominion Resources, Inc.) filed an 8-K report on January 14, 2004, detailing a significant debt offering. The company entered into an underwriting agreement on January 12, 2004, to issue $200 million in 5.20% Senior Notes due 2016 and $100 million in floating rate Senior Notes due 2006. These notes are part of a larger $3 billion securities issuance registered earlier in the year. This offering indicates Dominion's strategy to raise capital through the debt markets, likely to fund ongoing operations, capital expenditures, or potentially acquisitions. The issuance of both fixed and floating rate notes suggests a diversified approach to managing its debt obligations and interest rate exposure. Investors should note the principal amounts, interest rates, and maturity dates of these newly issued senior notes as they impact the company's leverage and future interest expenses.

Key Highlights

  • 1Dominion Resources, Inc. issued $200 million of 5.20% Senior Notes due 2016.
  • 2Dominion Resources, Inc. issued $100 million of Floating Rate Senior Notes due 2006.
  • 3The notes were issued under an underwriting agreement dated January 12, 2004, with Barclays Capital Inc. and Wachovia Capital Markets, LLC as representatives.
  • 4This offering is part of a previously registered $3 billion aggregate principal amount of securities.
  • 5The issuance reflects Dominion's active management of its capital structure and debt financing.
  • 6Supplemental indentures were filed for both the Series A (fixed rate) and Series B (floating rate) notes.
  • 7The filing includes referenced exhibits such as the underwriting agreement and forms of supplemental indentures.

Frequently Asked Questions

The primary purpose of this 8-K filing was to announce Dominion Resources, Inc.'s entry into an underwriting agreement for the sale of $300 million in aggregate principal amount of Senior Notes, specifically $200 million of fixed-rate notes and $100 million of floating-rate notes.

The company is issuing $200 million of 5.20% Senior Notes due 2016 and $100 million of Floating Rate Senior Notes due 2006. The initial interest rate for the floating rate notes is set at 1.4%.

These notes are part of a larger $3 billion shelf registration of securities filed earlier, indicating Dominion's ongoing strategy to access capital markets for funding. The issuance of both fixed and floating rate debt suggests a balanced approach to managing its interest rate risk and financing needs.

Investors can find more details in the exhibits filed with this 8-K, including the Underwriting Agreement and the forms of the Twenty-Fifth and Twenty-Sixth Supplemental Indentures, which govern the terms of the Series A and Series B Senior Notes, respectively.