Summary
Dominion Resources, Inc. (now Dominion Energy) filed an 8-K on August 8, 2016, to report on the issuance of new senior notes. The company entered into an underwriting agreement on August 4, 2016, to sell a total of $1.3 billion in senior notes across three different series with varying maturity dates and interest rates. This action indicates the company's strategy to manage its debt structure and raise capital for its operations. Specifically, Dominion Resources issued $500 million in 1.60% Senior Notes due 2019, $400 million in 2.00% Senior Notes due 2021, and $400 million in 2.85% Senior Notes due 2026. These notes were registered under a previously effective shelf registration statement. Investors should note the aggregate principal amount raised and the respective coupon rates and maturities, which provide insights into the cost of debt and the company's financing needs and outlook at the time.
Key Highlights
- 1Dominion Resources, Inc. issued $1.3 billion in aggregate principal amount of Senior Notes.
- 2The issuance comprised three series: $500 million of 1.60% Senior Notes due 2019, $400 million of 2.00% Senior Notes due 2021, and $400 million of 2.85% Senior Notes due 2026.
- 3The notes were issued under an underwriting agreement dated August 4, 2016.
- 4These debt securities were registered under a Form S-3 shelf registration statement effective December 19, 2014.
- 5The filing includes the underwriting agreement and supplemental indentures as exhibits.
- 6The event date reported is August 3, 2016, with the filing date of August 8, 2016.