Summary
Dominion Resources, Inc. (now Dominion Energy) filed an 8-K on August 5, 2011, to report on a significant debt offering. The company entered into an underwriting agreement on August 2, 2011, for the sale of $500 million in aggregate principal amount of its 2011 Series C 4.90% Senior Notes due 2041. This issuance under its existing shelf registration statement indicates Dominion's strategy to raise capital for its operations and potential growth initiatives. The specific details of the notes and the underwriting agreement, including the participating underwriters (Barclays Capital Inc., BNP Paribas Securities Corp., and RBC Capital Markets, LLC), are publicly disclosed in this filing. Investors can view this as a standard capital markets activity to manage the company's balance sheet and fund its long-term objectives.
Key Highlights
- 1Dominion Resources, Inc. issued $500 million in aggregate principal amount of 4.90% Senior Notes due 2041.
- 2The notes are designated as the '2011 Series C 4.90% Senior Notes due 2041'.
- 3An underwriting agreement was executed on August 2, 2011, with Barclays Capital Inc., BNP Paribas Securities Corp., and RBC Capital Markets, LLC acting as representatives for the underwriters.
- 4The senior notes were issued under a shelf registration statement filed with the SEC on Form S-3, effective January 29, 2009.
- 5The issuance is governed by the Forty-Third Supplemental Indenture to the company's existing Senior Indenture dated June 1, 2000.
- 6This filing is an Item 8.01 (Other Events) and Item 9.01 (Financial Statements and Exhibits) filing.