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Dominion restates $5.5 billion of revolvers to add Questar as borrower
By Marisa Wong
Morgantown, W.Va., Nov. 10 – Dominion Resources, Inc. and its wholly owned subsidiaries, Virginia Electric and Power Co., Dominion Gas Holdings, LLC and Questar Gas Co., entered into a $5 billion second amended and restated revolving credit agreement on Thursday, according to an 8-K filing with the Securities and Exchange Commission.
JPMorgan Chase Bank, NA, Mizuho Bank, Ltd., Bank of America Merrill Lynch, Barclays Bank plc and Wells Fargo Securities, LLC are the joint lead arrangers and joint bookrunners with JPMorgan Chase Bank as administrative agent, Mizuho Bank, Bank of America, NA, Barclays Bank and Wells Fargo Bank, NA as syndication agents.
Dominion, Virginia Power, Dominion Gas and Questar Gas also entered into on Thursday a $500 million second amended and restated revolving credit agreement with Keybank NA and U.S. Bank NA as joint lead arrangers and joint bookrunners, Keybank as administrative agent and U.S. Bank as syndication agent.
The purpose of the restated credit facilities is to add Questar Gas, which became a subsidiary of Dominion in September, as a borrower and to make some administrative and related changes.
The changes are not expected to have any impact on the annual cost or availability of funds to Dominion. The full amount of the facilities remains available to Dominion less any amounts due to borrowings by co-borrowers Virginia Power, Dominion Gas and Questar Gas and subject to any sublimits agreed to among the borrowers from time to time.
The restated facilities mature in April 2020.
Dominion is a Richmond, Va.-based producer and transporter of energy.
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