RICHMOND, Va., May 23, 2016 /PRNewswire/ -- Dominion Resources,
Inc. (NYSE: D) announced that it has successfully remarketed its
2.962% Junior Subordinated Notes due 2019. 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 on June 7, 2013.
Effective May 26, 2016, the notes
will bear interest at 2.962% per year. The remarketing is
expected to close on May 26, 2016,
subject to customary closing conditions.
Dominion will not directly receive any proceeds from the
remarketing of the notes. It is expected that on July 1, 2016, 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: Citigroup Global Markets Inc., c/o
Broadridge Financial Solutions, 1155 Long Island Avenue,
Edgewood, N.Y. 11717, telephone:
(800) 831-9146, email: prospectus@citi.com; 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; or Goldman,
Sachs & Co., 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.
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.
This Dominion 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