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Virginia Electric talks $500 million 10-year notes at 120-125 bps over Treasuries; pricing Tuesday
By Aleesia Forni
New York, Jan. 12 – Virginia Electric & Power Co. is planning to price $500 million of series A senior notes (A2/A-/A) due 2026 on Tuesday, according to a market source and a 424B5 filing with the Securities and Exchange Commission.
The notes are talked in the range of 120 basis points to 125 bps over Treasuries.
Citigroup Global Markets Inc., Goldman Sachs & Co. and Morgan Stanley & Co. LLC are the joint bookrunners.
The company plans to use the proceeds for general corporate purposes, including the repayment of short-term debt.
The electric utility is based in Richmond, Va.
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