Dominion Energy Announces Remarketing Of 2014 Series A 1.50% Remarketable Subordinated Notes Due 2020

May 15, 2017
4:42pm

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.

SOURCE Dominion Energy

For further information: Media: Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dominionenergy.com; Financial analysts: Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dominionenergy.com


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