Virginia Electric selling $500 million 10-year senior notes Monday

By Andrea Heisinger

New York, March 11 - Virginia Electric & Power Co. is in the market Monday with a $500 million offering of senior notes due March 15, 2023 (A3/A-/A-), according to a 424B5 filing with the Securities and Exchange Commission.

The notes will have a make-whole redemption until Dec. 15, 2022 and a par call after that date.

Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC and UBS Securities LLC are the bookrunners.

Proceeds will be used for general corporate purposes, including the repayment of short-term debt.

The electric utility is based in Richmond, Va.

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