Dominion Energy Announces Remarketing Of 2016 Series A-1 2.0% Remarketable Subordinated Notes Due 2021, 2016 Series A-2 2.0% Remarketable Subordinated Notes Due 2024
RICHMOND, Va., June 24, 2019 /PRNewswire/ -- Dominion Energy, Inc. (NYSE: D), announced today that it has successfully remarketed its 2016 Series A-1 2.0% Remarketable Subordinated Notes due 2021 (the Series A-1 RSNs) and its 2016 Series A-2 2.0% Remarketable Subordinated Notes due 2024 (the Series A-2 RSNs). The optional remarketing was conducted pursuant to the terms of the governing documents for the notes, which were originally issued on Aug. 15, 2016, as a part of Dominion Energy's 2016 Series A Corporate Units (the Corporate Units).
Effective upon closing of the remarketing, the Series A-1 Notes will bear interest at 2.715% per year and be redesignated as Dominion Energy's "Series A-1 2.715% Junior Subordinated Notes due 2021" and the Series A-2 Notes will bear interest at 3.071% per year and be redesignated as Dominion Energy's "Series A-2 3.071% Junior Subordinated Notes due 2024." The remarketing is expected to close on June 27, 2019, subject to customary closing conditions.
Dominion Energy will not directly receive any proceeds from the remarketing of the notes. It is expected that on Aug. 15, 2019, 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, NY 11717, telephone: 1-800-831-9146, email: firstname.lastname@example.org; Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue, New York, NY 10010-3629, telephone: 1-800-221-1037, email: email@example.com; or RBC Capital Markets, LLC, Brookfield Place, 200 Vesey Street, 8th Floor, New York, NY 10281, Attention: Transaction Management Group, telephone: 1-866-375-6829, email: RBCNYFIXEDINCOMEPROSPECTUS@RBCCM.COM.
About Dominion Energy
Nearly 7.5 million customers in 18 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and is one of the nation's largest producers and transporters of energy with about $100 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution and import/export services. The company expects to cut generating fleet carbon dioxide emissions 80 percent by 2050 and reduce methane emissions from its gas assets 50 percent by 2030.
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.
SOURCE Dominion Energy