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New Issue-Dominion Resources sells $1.2 bln in 3-pt debt

Fri Jun 13, 2008 1:38am IST
 
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  June 12 (Reuters) - Dominion Resources Inc (D.N: Quote, Profile, Research), a
diversified energy company based in Richmond, Virginia, on
Thursday sold $1.2 billion in three-part debt, according to
International Financing Review.
 Barclays Capital, Citigroup Global Markets, JP Morgan, and
Merrill Lynch were the joint bookrunning managers for the sale,
added IFR, a Thomson Reuters publication.
BORROWER: DOMINION RESOURCES INC
FIRST TRANCHE:
AMT $300 MLN       COUPON 105 BPS/     MATURITY 6/17/2010 
                     3-MO LIBOR
TYPE FLTG RT NTS   ISS PRICE 100       FIRST PAY 9/17/2008
MOODY'S Baa2       YIELD N/A           SETTLEMENT 6/17/2008
S&P A-MINUS        SPREAD N/A          PAY FREQ QUARTERLY 
FITCH BBB-PLUS                         NON-CALLABLE       
SECOND TRANCHE:
AMT $500 MLN       COUPON 6.40 PCT     MATURITY 6/15/2018 
TYPE SR NOTES      ISS PRICE 99.906    FIRST PAY 12/15/2008
MOODY'S Baa2       YIELD 6.413 PCT     SETTLEMENT 6/17/2008
S&P A-MINUS        SPREAD 220 BPS      PAY FREQ SEMI-ANNUAL
FITCH BBB-PLUS      MORE THAN TREAS    MAKE-WHOLE CALL 35 BPS
THIRD TRANCHE:
AMT $400 MLN       COUPON 7.00 PCT     MATURITY 6/15/2038 
TYPE SR NOTES      ISS PRICE 99.232    FIRST PAY 12/15/2008
MOODY'S Baa2       YIELD 7.062 PCT     SETTLEMENT 6/17/2008
S&P A-MINUS        SPREAD 230 BPS      PAY FREQ SEMI-ANNUAL
FITCH BBB-PLUS      MORE THAN TREAS    MAKE-WHOLE CALL 40 BPS


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