Dominion Energy South Carolina Inc. has raised the cap on its tender offer to purchase its 4.250% first mortgage bonds, after it was fully subscribed as of the Sept. 11 early tender date.
The Dominion Energy Inc. subsidiary will now purchase $552.3 million of the bond, up from $400 million.
Based on initial results, the company will accept all of the 4.25% bonds due 2028 and 4.350% bonds due 2042 that were validly tendered and not withdrawn by 5 p.m. ET on Sept. 11. No 4.600% bonds due 2043 will be accepted for purchase.
The company does not expect to accept for purchase any bonds tendered after the early tender deadline. The tender is scheduled to expire at 11:59 p.m. ET on Sept. 25.
Bank of America Merrill Lynch and U.S. Bancorp Investments Inc. are acting as dealer managers for the offer.
