Dominion Files Shelf Registrations.Energy Editors/Business Editors RICHMOND, Va.--(BUSINESS WIRE)--July 3, 2003 Dominion (NYSE NYSE See: New York Stock Exchange : D) filed two shelf registration statements today with the U.S. Securities & Exchange Commission. The first filing is a universal shelf that will allow Dominion to issue up to $3 billion in securities over the next two years, consisting of senior debt, junior subordinated debentures, trust preferreds, common stock, preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. , stock purchase contracts and stock purchase units. The second filing is an equity shelf registration to provide capacity to accommodate previously issued mandatory convertible securities mandatory convertible security A debt security that automatically converts to another security, generally shares of common stock, on a specified date. maturing over the next several years. Thomas N. Chewning, chief financial officer, said, "The universal shelf is a filing which companies like Dominion must do periodically to provide flexibility for future needs. Proceeds will be used for general corporate purposes, such as refinancing debt to take advantage of the current low rate environment. This is a routine filing. Dominion has no plans to issue additional shares of common stock in the foreseeable future. "The other shelf filing is necessary to provide common share capacity to accommodate two outstanding issues of mandatory convertible securities, one converting by November of 2004 and the other by May of 2006." Along with these filings, Dominion is also filing a routine financing application under the Public Utility Holding Company Act Public Utility Holding Company Act The 1935 act that gives the SEC authority over the security issues, the accounting systems, the corporate structures, and the intercompany transactions of public utilities. (PUHCA PUHCA Public Utility Holding Company Act ) seeking to extend its currently approved financing authority, as well as amend and clarify certain features under the current authority. Dominion is one of the nation's largest energy companies and is headquartered in Richmond, Virginia Richmond IPA: [ɹɯʒmɐnɖ] is the capital of the Commonwealth of Virginia, in the United States. . |
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