Dominion Energy Announces $1.5B Junior Subordinated Notes Offering
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Key Takeaways
- Dominion Energy is issuing $1.5 billion in junior subordinated notes due 2056 across two series.
- The offering is led by Morgan Stanley, RBC Capital Markets, U.S. Bancorp, and Wells Fargo Securities.
- The notes are registered under Rule 415 pursuant to a Form S-3 registration statement effective October 31, 2025.
- The notes will be issued under supplemental indentures to the company's existing subordinated indenture.
Dominion Energy (NYSE: D), Inc. entered into an underwriting agreement on June 8, 2026, with Morgan Stanley & Co. LLC, RBC Capital Markets, U.S. Bancorp Investments, and Wells Fargo Securities acting as representatives of the underwriters. The agreement covers the sale of $1 billion aggregate principal amount of 2026 Series A Junior Subordinated Notes and $500 million aggregate principal amount of 2026 Series B Junior Subordinated Notes, both maturing in 2056.
These junior subordinated notes were registered under Rule 415 of the Securities Act of 1933 through a registration statement on Form S-3 that became effective on October 31, 2025. The Series A and Series B notes will be issued pursuant to the Twenty-First and Twenty-Second Supplemental Indentures, respectively, which supplement Dominion Energy's June 1, 2006 Subordinated Indenture II, as amended.
The underwriting agreement and related supplemental indentures have been filed as exhibits to the company's Form 8-K dated June 16, 2026. Legal opinions from McGuireWoods LLP accompany the filing, which also includes the forms of the notes and other relevant documentation.
