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.
