RICHMOND, Va., Aug. 8, 2016 /PRNewswire/ -- Dominion (NYSE:
D) announced today its intention to offer to sell 25 million equity
units, subject to market and other conditions. Each equity unit
will be issued in a stated amount of $50 and will consist of a contract to purchase
common stock in the future and two 1/40 undivided beneficial
ownership interests in remarketable subordinated notes each having
a principal amount of $1,000.
Dominion expects to grant to the underwriters an option to purchase
an additional 3 million equity units to cover over-allotments.
Dominion intends to use the net proceeds from this offering for
general corporate purposes, including funding, in part, Dominion's
combination with Questar Corporation (NYSE: STR).
RBC Capital Markets, LLC, Mizuho Securities USA Inc., Credit Suisse Securities
(USA) LLC, Wells Fargo Securities,
LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc.,
MUFG Securities Americas Inc., Scotia Capital (USA) Inc., SunTrust Robinson Humphrey, Inc.
and U.S. Bancorp Investments, Inc. will be joint book-running
managers for the offering.
The offering will be made under an effective shelf registration
statement filed with the U.S. Securities and Exchange Commission.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy the securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities law of any such jurisdiction. Any offers of the
securities will be made exclusively by means of a prospectus
supplement and accompanying prospectus. Copies of these documents
may be obtained by contacting RBC Capital Markets, LLC, Attn:
Equity Syndicate, 3 World Financial Center, 200 Vesey Street, 8th
Floor, New York, NY 10281, at
1-877-822-4089 or email a request to equityprospectus@rbccm.com;
Mizuho Securities USA Inc., Attn:
Equity Capital Markets Desk, 320 Park Avenue – 12th Floor,
New York, NY 10022, Telephone:
1-212-205-7600; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One
Madison Avenue, New York, NY
10010, by calling toll-free 1-800-221-1037, or by e-mail at
newyork.prospectus@credit-suisse.com; or Wells Fargo Securities,
LLC, Attn: Equity Syndicate Department, 375 Park Avenue, New
York, NY 10152, at (800) 326-5897 or email a request to
cmclientsupport@wellsfargo.com.
Dominion is one of the nation's largest producers and
transporters of energy, with a portfolio of approximately 25,700
megawatts of generation, 12,200 miles of natural gas transmission,
gathering and storage pipeline, and 6,500 miles of electric
transmission lines. Dominion operates one of the nation's
largest natural gas storage systems with 933 billion cubic feet of
storage capacity and serves more than 5 million utility and retail
energy customers in 14 states. For more information about Dominion,
visit the company's website at www.dom.com.
This release contains certain forward-looking statements that
are subject to various risks and uncertainties. Factors that could
cause actual results to differ from those in the forward-looking
statements may accompany the statements themselves. In addition,
our business and any offering may be influenced by many factors
that are difficult to predict, involve uncertainties that may
materially affect actual results and are often beyond our ability
to control. These factors include, but are not limited to, the
prevailing conditions in the public capital markets, interest
rates, economic, political and market factors affecting trading
volumes, securities prices or demand for our equity and debt
securities. We have identified and will in the future
identify a number of additional generally applicable factors in our
reports on Forms 10-K, 10-Q and 8-K filed with the U.S. Securities
and Exchange Commission. We refer you to those discussions for
further information.
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SOURCE Dominion