8-KOther EventsExhibits & Filings

DOMINION ENERGY, INC 8-K Report, Corporate Update (Nov 26, 2008)

Filed November 26, 2008For Securities:D

Summary

Dominion Energy, Inc. (D) filed an 8-K report on November 26, 2008, detailing the execution of an underwriting agreement for the sale of $600 million in 8.875% Senior Notes due 2019. This issuance, facilitated by underwriters including Barclays Capital Inc. and J.P. Morgan Securities Inc., is part of the company's ongoing financing activities, registered under a previously effective Form S-3 registration statement. This debt issuance indicates Dominion Energy's strategic effort to raise capital. Investors should note the coupon rate of 8.875% and the maturity date in 2019, which are key terms for understanding the company's debt profile and future financial obligations. The filing also references the underlying senior indenture and a supplemental indenture, providing details on the terms and conditions of these new notes.

Key Highlights

  • 1Dominion Energy, Inc. entered into an underwriting agreement for the sale of $600,000,000 of 8.875% Senior Notes due 2019.
  • 2The offering was underwritten by Barclays Capital Inc. and J.P. Morgan Securities Inc., among others.
  • 3The Senior Notes were registered under a Form S-3 shelf registration statement effective February 13, 2006.
  • 4The filing includes the Series D Senior Notes Underwriting Agreement as an exhibit.
  • 5A supplemental indenture to the company's existing Senior Indenture has been executed for the issuance of these notes.
  • 6Deutsche Bank Trust Company Americas is designated as the Series Trustee for these notes.
  • 7The report was filed on November 26, 2008, with the event date being November 25, 2008.

Frequently Asked Questions

This 8-K filing reports on Dominion Energy's execution of an underwriting agreement to issue $600 million in new senior notes, providing details about the terms of the offering and the associated legal documentation.

The notes are designated as 2008 Series D 8.875% Senior Notes due 2019, meaning they carry an annual interest rate of 8.875% and mature in 2019. The aggregate principal amount is $600,000,000.

Issuing new debt is a common corporate finance strategy to raise capital for various purposes, such as funding operations, capital expenditures, acquisitions, or refinancing existing debt. Specific reasons would typically be detailed in other company communications or SEC filings.

A Form S-3 registration statement, often referred to as a 'shelf registration,' allows companies to pre-register securities they may want to sell in the future. This filing indicates that Dominion Energy had previously registered these senior notes and is now proceeding with their actual sale under the terms of the underwriting agreement.