Dominion Energy Inc. sold $300 million of 4.25% series 2018B senior unsecured notes due June 1, 2028.
The company plans to use net proceeds to repay short-term debt, including $1.36 billion in outstanding commercial paper with a weighted average yield of 2.55%, and for general corporate purposes.
Interest on the bonds is payable semiannually on June 1 and Dec. 1 of each year, starting Dec. 1. The bonds have a spread to benchmark Treasury of 140 basis points and were expected to be rated Baa2 by Moody's, BBB by S&P Global Ratings and BBB+ by Fitch Ratings.
BNP Paribas Securities Corp. and Scotia Capital (USA) Inc. served as joint book-running managers.
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