Virginia Electric plans to issue 10-, 30-year offering of senior notes

By Aleesia Forni

Virginia Beach, Feb. 4 - Virginia Electric & Power Co. is planning to price an issue of series A senior notes due 2024 and series B senior notes due 2044, according to a 424B5 filing with the Securities and Exchange Commission.

BNP Paribas Securities Corp., UBS Investment Bank and Deutsche Bank Securities Inc. 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 November 2023 and August 2043, respectively, 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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