Virginia Electric and Power to sell 10- and 30-year senior notes

By Devika Patel

Knoxville, Tenn., Nov. 10 – Virginia Electric and Power Co. will conduct a two-part offering of 10- and 30-year fixed-rate senior notes, according to a 424B5 filing with the Securities and Exchange Commission.

The notes (//A) will be sold in two tranches of series B notes due Nov. 15, 2026 and series C notes due Nov. 15, 2046.

The 2026 notes have a make-whole call until Aug. 15, 2026 and then a par call; the 2046 notes have a make-whole call until May 15, 2046 and then a par call.

BNP Paribas Securities Corp., MUFG, Scotia Capital (USA) Inc., SunTrust Robinson Humphrey Inc. and U.S. Bancorp Investments Inc. are the bookrunners. Academy Securities and Drexel Hamilton are the co-managers.

Proceeds will be used for general corporate purposes and to repay short-term debt.

The electric utility is based in Richmond, Va.

© 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.