Summary
Dominion Resources, Inc. (now Dominion Energy, Inc.) filed an 8-K report on August 11, 2009, to announce the execution of an underwriting agreement for the sale of $500 million in aggregate principal amount of its 5.20% Senior Notes due 2019. This issuance was previously registered under a Form S-3 filing effective January 29, 2009. The report details the agreement with a syndicate of underwriters, including major financial institutions, for these notes. This filing is significant for investors as it signals the company's proactive approach to managing its capital structure and accessing debt markets. The issuance of long-term debt at a fixed interest rate of 5.20% provides Dominion with capital for its operations, potential growth initiatives, or refinancing of existing debt, while locking in a specific cost of borrowing. Investors should note the aggregate principal amount and the maturity date of these notes, as they represent a material addition to the company's long-term liabilities.
Key Highlights
- 1Dominion Resources, Inc. entered into an underwriting agreement on August 11, 2009.
- 2The agreement is for the sale of $500,000,000 aggregate principal amount of 5.20% Senior Notes due 2019.
- 3The Senior Notes were previously registered under a Form S-3 effective January 29, 2009.
- 4Key underwriters include BNP Paribas Securities Corp., Deutsche Bank Securities Inc., J.P. Morgan Securities Inc., and Morgan Stanley & Co. Incorporated.
- 5The issuance represents a significant debt financing for the company.
- 6Filed as an Exhibit is the Series A Senior Notes Underwriting Agreement and the form of the Thirty-Ninth Supplemental Indenture.