By Aleesia Forni
Virginia Beach, Va., Aug. 12 - Virginia Electric & Power Co. priced $585 million 4.65% 30-year series D senior notes (A3/A-/A-) due Aug. 15, 2043 at Treasuries plus 95 basis points, according to a filing with the Securities and Exchange Commission.
The notes priced at 99.952 to yield 4.653%.
Barclays, BNP Paribas Securities Corp., RBS Securities Inc. and Wells Fargo Securities LLC were the joint bookrunners.
The company plans to use proceeds for general corporate purposes, including the repayment of short-term debt.
The electric utility is based in Richmond, Va.
| Issuer: | Virginia Electric & Power Co.
|
| Amount: | $585 million
|
| Description: | Series D senior notes
|
| Maturity: | Aug. 15, 2043
|
| Joint bookrunners: | Barclays, BNP Paribas Securities Corp., RBS Securities Inc., Wells Fargo Securities LLC
|
| Coupon: | 4.65%
|
| Price: | 99.952
|
| Yield: | 4.653%
|
| Spread: | Treasuries plus 95 bps
|
| Call: | Make whole at Treasuries plus 15 bps prior to Feb. 15, 2043, then callable at par
|
| Trade date: | Aug. 12
|
| Settlement: | Aug. 15
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A-
|
© 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.
