Summary
Dominion Energy, Inc. (D) has filed an 8-K report to disclose the execution of an underwriting agreement for the sale of $300 million in aggregate principal amount of its 2018 Series B 4.25% Senior Notes due 2028. This offering is part of the company's established shelf registration and will be governed by a new supplemental indenture to its existing senior indenture. This issuance of debt is a standard capital-raising activity for a utility company like Dominion Energy. Investors should note the coupon rate of 4.25% and the maturity date in 2028, which provide a predictable income stream and a defined repayment schedule. The company is leveraging its access to public debt markets to fund its ongoing operations and potential future investments.
Key Highlights
- 1Dominion Energy entered into an underwriting agreement for the sale of $300 million in Senior Notes.
- 2The Senior Notes are Series B, carry a 4.25% interest rate, and mature in 2028.
- 3The offering is conducted under a previously effective registration statement on Form S-3.
- 4The Senior Notes will be issued under the Fifteenth Supplemental Indenture to the Company's June 1, 2015 Senior Indenture.
- 5The underwriting agreement was executed with BNP Paribas Securities Corp. and Scotia Capital (USA) Inc. as representatives.
- 6The filing includes the Underwriting Agreement, the Fifteenth Supplemental Indenture, and an opinion of counsel as exhibits.
- 7James R. Chapman, Senior Vice President – Mergers & Acquisitions and Treasurer, signed the report on behalf of the company.