Virginia Electric and Power lines up senior notes due 2034, 2054

Chicago, Jan. 2 – Virginia Electric and Power Co. is offering two series of senior notes, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday morning.

The utility is offering fixed-rate series A senior notes due Jan. 15, 2034 and fixed-rate series B senior notes due Jan. 15, 2054.

Call protection comes in the form of make-whole premiums prior to three months before the maturity date of the series A notes and six months before the maturity date for the series B notes. In the final three or six months, the notes will be callable at par.

BNP Paribas Securities Corp., BofA Securities, Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC and RBC Capital Markets, LLC are acting as joint bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

McGuireWoods LLP is advising the issuer. Troutman Pepper Hamilton Sanders LLP is working as counsel for the underwriters.

Proceeds will be used for general corporate purposes and to repay short-term debt, including $375 million in outstanding commercial paper.

The public electric utility is based in Richmond, Va. Its parent company is Dominion Energy.

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