8-KOther EventsExhibits & Filings

DOMINION ENERGY, INC 8-K Report, Corporate Update (Sep 2, 2010)

Filed September 2, 2010For Securities:D

Summary

Dominion Resources, Inc. (now Dominion Energy) filed an 8-K on September 2, 2010, to report on the execution of an underwriting agreement for the sale of $250 million in aggregate principal amount of its 2010 Series A 2.25% Senior Notes due 2015. This transaction was conducted under an effective shelf registration statement filed earlier in 2009, indicating the company was utilizing its pre-established financing facilities. The filing also includes the necessary supplemental indenture for these notes. For investors, this 8-K primarily signals an opportunistic financing event. The issuance of debt suggests Dominion was seeking to secure long-term funding, likely for ongoing capital expenditures, debt refinancing, or general corporate purposes, at a specific interest rate. The relatively low coupon rate of 2.25% for notes due in 2015 may reflect market conditions at the time and Dominion's credit standing. Investors should consider this as part of Dominion's broader capital structure management and its approach to funding future growth and operations.

Key Highlights

  • 1Dominion Resources, Inc. entered into an underwriting agreement on August 30, 2010.
  • 2The company is selling $250,000,000 aggregate principal amount of 2.25% Senior Notes due 2015.
  • 3The notes were registered under a shelf registration statement (Form S-3) effective January 29, 2009.
  • 4Key underwriters include Deutsche Bank Securities Inc., Morgan Stanley & Co. Incorporated, and UBS Securities LLC.
  • 5A Fortieth Supplemental Indenture was executed to facilitate the issuance of these notes.
  • 6The filing includes the underwriting agreement and the supplemental indenture as exhibits.

Frequently Asked Questions

This 8-K filing serves to announce Dominion Resources, Inc.'s execution of an underwriting agreement for the issuance of $250 million in senior notes. It provides transparency to investors about this debt financing transaction.

The company is issuing $250 million in aggregate principal amount of 2010 Series A 2.25% Senior Notes due 2015. This means the notes carry a fixed interest rate of 2.25% per year and mature in 2015.

The issuance is governed by a Fortieth Supplemental Indenture to the company's existing Senior Indenture dated June 1, 2000. This indicates that these new notes are senior unsecured obligations of the company, consistent with its established debt framework.

Yes, the notes were registered under a shelf registration statement filed on Form S-3 in January 2009. This indicates that Dominion had pre-filed its intention to issue securities, allowing it to raise capital more efficiently when market conditions were favorable.