Dominion Energy, Inc.’s $1.61 Billion Equity Units Offering

Davis Polk advised the joint book-running managers and representatives of the underwriters on an SEC-registered offering by Dominion Energy, Inc.

Dominion Energy, Inc. offered 16,100,000 equity units, including 2,100,000 equity units from the exercise by the underwriters of their option to purchase additional equity units. The equity units will initially consist of 1,610,000 shares of Dominion Energy, Inc.’s 1.75% Series A cumulative perpetual convertible preferred stock, with a liquidation preference of $1,000 per share, and contracts to purchase, for an aggregate of $1.61 billion, a variable number of shares of common stock of Dominion Energy, Inc.

Dominion Energy, Inc. is one of the nation’s largest producers and transporters of energy, operating one of the nation’s largest natural gas storage systems.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC and Deutsche Bank Trust Company Americas acted as book-running managers and representatives of the underwriters.

The Davis Polk equity derivatives team included partners Mark M. Mendez (Picture) and Mark J. DiFiore and associates Joseph Luizzi and S. Elizabeth Kim. The tax team included partner Michael Farber and associate Christopher A. Baratta.

Involved fees earner: Christopher Baratta – Davis Polk & Wardwell; Mark DiFiore – Davis Polk & Wardwell; Michael Farber – Davis Polk & Wardwell; Elizabeth Kim – Davis Polk & Wardwell; Joseph Luizzi – Davis Polk & Wardwell; Mark Mendez – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Deutsche Bank Trust Company ; RBC Capital Markets;