RICHMOND, Va., May 15, 2017 /PRNewswire/ -- Dominion Energy,
Inc. (NYSE: D), formerly Dominion Resources, Inc., announced today
that it has successfully remarketed its 2014 Series A 1.50%
Remarketable Subordinated Notes due 2020. The optional remarketing
was completed pursuant to the terms of the governing documents for
the notes that were originally issued as part of Corporate Units of
Dominion Energy on July 1, 2014.
Effective upon closing of the remarketing, the notes will bear
interest at 2.579% per year and be redesignated as Dominion
Energy's "2.579% Junior Subordinated Notes due 2020." The
remarketing is expected to close on May 18,
2017, subject to customary closing conditions.
Dominion Energy will not directly receive any proceeds from the
remarketing of the notes. It is expected that on July 3, 2017, which is the purchase contract
settlement date for the Corporate Units, a portion of the proceeds
of the portfolio of treasury securities required to be purchased
with the proceeds of the remarketing will be used to settle the
purchase contracts issued as part of the Corporate Units. The
remaining portion of the proceeds of the portfolio of treasury
securities will be distributed to the holders of the Corporate
Units.
The offering is being made under an effective shelf registration
statement on file with the U.S. Securities and Exchange Commission
(SEC). This press 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. The offering of
notes in connection with the remarketing may be made only by means
of a prospectus and related prospectus supplement, copies of which
may be obtained for free by visiting EDGAR on the SEC's website at
www.sec.gov or by contacting: Credit Suisse Securities
(USA) LLC, Attn: Prospectus
Department, One Madison Avenue, New York,
N.Y. 10010-3629, telephone: (800) 221-1037, email:
newyork.prospectus@credit-suisse.com; Goldman Sachs & Co. LLC,
Prospectus Department, 200 West Street, New York, N.Y. 10282, telephone: (866)
471-2526, facsimile: (212) 902-9316, email:
prospectus-ny@ny.email.gs.com; or Merrill Lynch, Pierce, Fenner
& Smith Incorporated, NC1-004-03-43, 200 North College Street,
3rd floor, Charlotte NC 28255-0001, Attn: Prospectus
Department, email dg.prospectus_requests@baml.com.
Dominion Energy is one of the nation's largest producers and
transporters of energy, with a portfolio of approximately 26,200
megawatts of generation, 15,000 miles of natural gas transmission,
gathering and storage pipeline, and 6,600 miles of electric
transmission lines. Dominion Energy operates one of the
nation's largest natural gas storage systems with 1 trillion cubic
feet of storage capacity and serves more than 6 million utility and
retail energy customers.
This Dominion Energy news release includes certain
"forward-looking information." Examples include information as
to expectations, beliefs, plans, goals, objectives and future
financial or other performance or assumptions concerning matters
discussed in this release. Our business is 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 or estimate precisely. We have identified
and will in the future identify in our SEC Reports on Forms 10-K
and 10-Q a number of factors that could cause actual results to
differ from those in the forward-looking statements. We refer you
to those discussions for further information. Any
forward-looking statement speaks only as of the date on which it is
made, and we undertake no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which it is made.
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SOURCE Dominion Energy