Virginia Electric planning to issue 30-year senior notes offering

By Aleesia Forni

Virginia Beach, Va., Aug. 12 - Virginia Electric & Power Co. is planning to price an issue of series D senior notes due Aug. 15, 2043, according to a 424B5 filing with the Securities and Exchange Commission.

Barclays, BNP Paribas Securities Corp., RBS Securities Inc. and Wells Fargo Securities LLC are the joint bookrunners.

The company plans to use proceeds for general corporate purposes, including the repayment of short-term debt.

The company may redeem the notes at any time prior to Feb. 15, 2043 at a make-whole redemption price and at any time after that at par, in each case plus accrued interest.

The electric utility is based in Richmond, Va.

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