Dominion Energy South Carolina offers $400 million 10-year bonds; price talk 110 bps area spread

By Devika Patel and Cristal Cody

Knoxville, Tenn., Nov. 18 – Dominion Energy South Carolina, Inc. expects to sell $400 million of 2021 series A first mortgage bonds due Dec. 1, 2031, according to a market source and additional details from a 424B5 filed with the Securities and Exchange Commission.

The bonds feature a make-whole call until Sept. 1, 2031 and then are callable at par.

Price talk is in the Treasuries plus 100 basis points area, the source said.

Goldman Sachs & Co. LLC and U.S. Bancorp Investments Inc. are the active bookrunners, and Capital One Securities Inc. is a passive bookrunner. Drexel Hamilton LLC is the co-manager.

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

Dominion Energy South Carolina is a subsidiary of Dominion Energy, Inc., a Richmond, Va.-based producer and transporter of energy.

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