Dominion Resources tenders for up to $150 million of notes due 2066

By Susanna Moon

Chicago, Feb. 27 - Dominion Resources, Inc. said it began a cash tender offer to purchase up to $150 million principal amount of its 2006 series B enhanced junior subordinated notes due 2066.

The total purchase price will be $900 for each $1,000 principal amount of notes, including an early tender premium of $30, tendered by the early tender deadline of 5 p.m. ET on March 7.

Holders also will receive accrued interest up to but not including the settlement date.

The tender offer will expire at 11:59 p.m. ET on March 23.

If the amount of tendered notes exceeds the tender cap, they will be purchased on a prorated basis.

Settlement is expected to occur on March 26.

Tendered notes may be withdrawn by the early tender deadline.

The tender offer is subject to the satisfaction of certain conditions but is is not conditioned on the tender of a minimum principal amount of notes, according to a company press release.

Morgan Stanley & Co. LLC (800 624-1808 or 212 761-1057) and RBC Capital Markets, LLC (877 381-2099 or 212 618-7822) are the dealer managers. D.F. King & Co., Inc. (800 735-3591 or 212 269-5550) is the information agent and tender agent.

Dominion is a Richmond, Va.-based energy production and transportation company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.