8-KOther EventsExhibits & Filings

DOMINION ENERGY, INC 8-K Report, Corporate Update (Oct 1, 2025)

Filed October 1, 2025For Securities:D

Summary

Dominion Energy, Inc. (D) has filed an 8-K report detailing the underwriting agreement for the issuance of an additional $1.25 billion in junior subordinated notes. Specifically, the company is issuing $625 million of 2025 Series A Junior Subordinated Notes due 2056 and $625 million of 2025 Series B Junior Subordinated Notes due 2056. These new notes are fungible with previously issued notes of the same series from August 2025, effectively increasing the outstanding principal for each series to $1.45 billion and $1.325 billion, respectively. This move represents a significant capital raise for Dominion Energy, likely intended to fund its ongoing operations, capital expenditures, or refinance existing debt. Investors should note that these are junior subordinated notes, which carry a higher risk profile compared to senior debt but typically offer a higher yield. The company has utilized its effective S-3 registration statement to facilitate this issuance, indicating a planned and registered approach to capital markets activity.

Key Highlights

  • 1Dominion Energy issued $1.25 billion in aggregate principal amount of new junior subordinated notes.
  • 2The issuance consists of $625 million of 2025 Series A Junior Subordinated Notes due 2056.
  • 3The issuance also includes $625 million of 2025 Series B Junior Subordinated Notes due 2056.
  • 4These new notes are further issuances and will form a single series with existing outstanding notes of the same series from August 2025.
  • 5The notes were issued under an underwriting agreement with BofA Securities, J.P. Morgan Securities, and Truist Securities as representatives.
  • 6The issuance was registered under Rule 415 of the Securities Act of 1933 via a Form S-3 registration statement.
  • 7The notes are junior subordinated debt, indicating a higher risk and potentially higher yield compared to senior debt.

Frequently Asked Questions

Dominion Energy is issuing a total of $1.25 billion in new junior subordinated notes, comprised of $625 million in Series A notes and $625 million in Series B notes.

The new Series A notes will be added to and form a single series with the $825 million of 2025 Series A Junior Subordinated Notes already outstanding, increasing the total outstanding principal for this series to $1.45 billion. Similarly, the new Series B notes will be added to the $700 million of 2025 Series B Junior Subordinated Notes, raising the total outstanding principal for this series to $1.325 billion.

Junior subordinated notes represent a higher risk than senior debt because they rank below other debt obligations in the event of bankruptcy or liquidation. However, this increased risk is typically compensated by a higher interest rate or yield compared to senior debt instruments.

While the 8-K filing does not explicitly state the purpose, such significant debt issuances are typically undertaken to fund capital expenditures, support ongoing operations, manage liquidity, or refinance existing debt obligations.