Dominion Resources plans $1.25 billion offering of series A equity units

By Stephanie N. Rotondo

Seattle, Aug. 8 – Dominion Resources Inc. is offering $1.25 billion of series A equity units, according to a prospectus filed with the Securities and Exchange Commission on Monday.

There is a $150 million greenshoe.

RBC Capital Markets LLC, Mizuho Securities USA Inc., Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., MUFG, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc. are the joint bookrunners.

The $50-par units will initially be issued as 2016 series A corporate units holding a contract to purchase common stock and two 1/40 undivided beneficial ownership interests in series A-1 and A-2 $1,000-par remarketable subordinated notes due 2021 and 2024, respectively.

The units will be listed on the New York Stock Exchange under the ticker “DCUD.”

Proceeds will be used for general corporate purposes, including to help fund the company’s acquisition of Questar Corp.

Dominion is a Richmond, Va.-based producer and transporter of energy.

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