Dominion program to issue floating-rate notes at ‘competitive’ rates

By Susanna Moon

Chicago, June 26 – Dominion Energy, Inc. said it began a financing program called Dominion Energy Reliability Investment that allows qualified investors to invest in new debt issued by the company.

The notes will pay a floating rate of interest “competitive with other short-term cash investments,” determined on a weekly basis, according to a company announcement.

Proceeds will be used to finance capital expenditures and future acquisitions and to retire or redeem debt securities as well as for other general corporate purposes, which may include repaying short-term debt.

The minimum balance is $1,000 and the individual’s total investment balance may not exceed $1.25 million at any time. There are no maintenance fees or charges for redemption checks.

The power and energy company is based in Richmond, Va.

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