What is the purpose of issuing these new Senior Notes?

The issuance of these Senior Notes is a typical capital markets transaction to raise funds, manage the company's debt maturity profile, and support its ongoing business and financing needs. The specific use of proceeds is not detailed in this 8-K but is generally for corporate purposes.

What does 'Floating Rate' mean for these Senior Notes?

'Floating Rate' means the interest rate paid on these notes will change over time, typically linked to a benchmark interest rate (like SOFR or LIBOR). This contrasts with 'fixed rate' notes, where the interest rate remains constant. Fluctuations in market rates will affect the interest expense for Dominion Energy and the income received by noteholders.

Where can I find more details about the terms of these notes?

More detailed information can be found in the filed exhibits to this 8-K. Specifically, Exhibit 1.1 contains the Underwriting Agreement, and Exhibit 4.2 contains the Twenty-First Supplemental Indenture, which outlines the terms and conditions of the Senior Notes.

Is this a new debt registration or a draw from an existing one?

This issuance is a draw from an existing shelf registration statement (Form S-3, File No. 333-239467) that became effective on June 26, 2020. Dominion Energy had pre-registered the ability to issue various debt securities, and this is one such issuance under that registration.

D 8-K SEC Disclosure — Sep 17, 2020

Summary

Dominion Energy, Inc. (D) filed an 8-K on September 16, 2020, disclosing the issuance of $1 billion in Floating Rate Senior Notes due 2023. This action was taken on September 10, 2020, under an underwriting agreement with several financial institutions. These notes are part of the company's previously established shelf registration statement and will be governed by a new supplemental indenture. This issuance represents a common capital markets activity for Dominion Energy to manage its debt structure and fund ongoing operations. Investors should note that the "floating rate" nature of these notes means their interest payments will fluctuate based on market rates, which could impact future interest expense and cash flow. The company has filed the relevant underwriting and indenture documents as exhibits to this 8-K.

Key Highlights

1Dominion Energy issued $1 billion of 2020 Series D Floating Rate Senior Notes due 2023.
2The issuance occurred on September 10, 2020, pursuant to an Underwriting Agreement.
3These notes are registered under a Form S-3 shelf registration statement declared effective on June 26, 2020.
4The Senior Notes will be governed by the Twenty-First Supplemental Indenture to the Company’s Senior Indenture.
5The filing includes the Underwriting Agreement and the Twenty-First Supplemental Indenture as exhibits.
6The notes are 'floating rate,' meaning their interest payments will adjust with market rates.

DOMINION ENERGY, INC 8-K Report, Corporate Update (Sep 17, 2020)

Summary

Key Highlights

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