8-KOther EventsExhibits & Filings

DOMINION ENERGY, INC 8-K Report, Corporate Update (Jun 15, 2015)

Filed June 15, 2015For Securities:D

Summary

Dominion Resources, Inc. (now Dominion Energy, Inc.) filed an 8-K on June 15, 2015, reporting on a significant debt offering. The company entered into an underwriting agreement on June 9, 2015, to sell $500 million in aggregate principal amount of its 2015 Series A 1.90% Senior Notes due 2018. These notes were registered under a previously effective shelf registration statement, indicating Dominion was accessing the capital markets to fund its operations or investments. The issuance of these notes represents a strategic move to secure long-term financing at a favorable interest rate, as evidenced by the 1.90% coupon. Investors in these notes are essentially lending money to Dominion Energy for a three-year term with a fixed rate of return. The filing also includes the relevant indenture documents that govern the terms and conditions of these senior notes, providing transparency on the debt obligations being undertaken by the company.

Key Highlights

  • 1Dominion Resources, Inc. issued $500 million in 1.90% Senior Notes due 2018.
  • 2The offering was made under a pre-existing shelf registration statement (effective December 19, 2014).
  • 3The underwriting agreement was signed on June 9, 2015, with Deutsche Bank Securities Inc., RBC Capital Markets, LLC, and Scotia Capital (USA) Inc. acting as representatives for the underwriters.
  • 4The notes are designated as 2015 Series A 1.90% Senior Notes due 2018.
  • 5The filing includes the Senior Indenture and a First Supplemental Indenture detailing the terms of the notes.
  • 6This debt issuance likely aimed to secure favorable long-term financing for the company.

Frequently Asked Questions

This 8-K filing is primarily to report on Dominion Resources, Inc.'s agreement to issue $500 million in Senior Notes due 2018. It formalizes the details of this debt offering, including the underwriting agreement and the relevant indenture documents.

The new senior notes are 2015 Series A 1.90% Senior Notes due 2018. This means they carry an annual interest rate of 1.90% and mature on June 1, 2018.

Issuing senior notes is a common way for companies like Dominion Resources to raise capital. This specific issuance likely aimed to secure funding for operations, capital expenditures, or refinancing existing debt, potentially at a favorable interest rate given the 1.90% coupon.

More details about the terms and conditions of the 2015 Series A 1.90% Senior Notes due 2018 can be found in the filed exhibits to this 8-K, specifically the Senior Indenture (Exhibit 4.1) and the First Supplemental Indenture (Exhibit 4.2).