Summary
Dominion Resources, Inc. (now Dominion Energy, Inc.) filed an 8-K on June 17, 2005, to report on the issuance of new senior notes. The company entered into an underwriting agreement on June 15, 2005, for the sale of $300 million in 4.75% Senior Notes due 2010 and $300 million in 5.95% Senior Notes due 2035. These issuances are part of a larger shelf registration that was declared effective in July 2003, allowing for the timely offering of these securities. This filing indicates Dominion Resources' strategy to raise significant capital through debt financing. The substantial principal amounts suggest a need for funding to support ongoing operations, capital expenditures, or potential acquisitions. Investors should note the specific interest rates and maturity dates for these notes, which will impact the company's future interest expense and debt obligations. The issuance diversifies the company's debt structure and extends its maturity profile.
Key Highlights
- 1Dominion Resources, Inc. issued $600 million in aggregate principal amount of Senior Notes.
- 2The issuance consists of $300 million of 4.75% Senior Notes due 2010.
- 3The issuance also includes $300 million of 5.95% Senior Notes due 2035.
- 4The notes were issued under an underwriting agreement dated June 15, 2005, with Citigroup Global Markets Inc. and Goldman, Sachs & Co. as representatives.
- 5This debt issuance is part of a $3.0 billion shelf registration statement previously filed and declared effective on July 11, 2003.
- 6The filing includes exhibits such as the Underwriting Agreement and forms of Supplemental Indentures.