Dominion Resources sweetens 2.125% convertibles ahead of put date

By Jennifer Chiou

New York, Dec. 4 - Dominion Resources, Inc. announced changes to its 2.125% convertible series C senior notes that will apply to holders who decide not to exercise the upcoming put option.

The company modified the note indenture to add call protection, eliminating its ability to redeem the notes before Dec. 16, 2011.

The changes also involve a new date on which the holders may put back their securities. It is Dec. 15, 2011, which is in addition to the original remaining repurchase dates of Dec. 15, 2008, Dec. 15, 2013 and Dec. 15, 2018.

This amendment will be effective on Dec. 16, the day after noteholders have the right to require Dominion to repurchase any or all of their notes under the original terms.

The Bank of New York Mellon is the trustee.

The natural gas and energy company is based in Richmond, Va.

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