Summary
Dominion Energy, Inc. (formerly Dominion Resources, Inc.) filed this 8-K on June 16, 2008, to report on significant debt financing activities that occurred on June 12, 2008. The company entered into underwriting agreements to issue a total of $1.2 billion in senior notes. This issuance includes $500 million of 6.40% Senior Notes due 2018 and $400 million of 7.0% Senior Notes due 2038, as well as $300 million of Floating Rate Senior Notes due 2010. These notes were registered under a previously effective shelf registration statement on Form S-3, indicating that the company was utilizing its existing registration to access capital markets. The filings provide details on the underwriting agreements and the supplemental indentures governing these new debt issuances. For investors, this report signifies Dominion's proactive approach to managing its capital structure and funding its operations through the issuance of long-term debt.
Key Highlights
- 1Dominion Energy (formerly Dominion Resources, Inc.) issued a total of $1.2 billion in senior notes.
- 2The issuance comprised $500 million of 6.40% Senior Notes due 2018.
- 3An additional $400 million of 7.0% Senior Notes due 2038 were issued.
- 4The company also issued $300 million of Floating Rate Senior Notes due 2010.
- 5These notes were issued under existing shelf registration statements filed on Form S-3.
- 6Underwriting agreements were entered into with major financial institutions including Barclays Capital, Citigroup, J.P. Morgan, and Merrill Lynch.
- 7Supplemental indentures to the company's senior indenture were executed to govern the terms of these new note series.