Summary
Dominion Energy, Inc. (D) has filed an 8-K report on March 13, 2019, disclosing a significant financing event. On March 11, 2019, the company entered into an underwriting agreement to issue $600 million in aggregate principal amount of senior notes. This issuance comprises $400 million of 4.60% Senior Notes due 2049 and $200 million of 4.25% Senior Notes due 2028. This debt issuance is being conducted under the company's existing shelf registration statement filed in 2017. The proceeds from these notes are intended to fund the company's ongoing operations and capital expenditures. Investors should note the specific interest rates and maturity dates for each series of notes, which provide clarity on the cost of this new debt and its repayment timeline.
Key Highlights
- 1Dominion Energy (D) issued $600 million in aggregate principal amount of senior notes on March 11, 2019.
- 2The issuance includes $400 million of 4.60% Senior Notes due 2049.
- 3The issuance also includes $200 million of 4.25% Senior Notes due 2028.
- 4The notes were sold under an underwriting agreement with Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., and TD Securities (USA) LLC.
- 5The debt offering was made under the company's existing shelf registration statement on Form S-3, effective June 30, 2017.
- 6The Series A Senior Notes are governed by the Sixteenth Supplemental Indenture dated March 1, 2019.
- 7The Series B Senior Notes are governed by the Fifteenth Supplemental Indenture dated June 1, 2018.