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RICHMOND, Va., May 15, 2017 /PRNewswire/ -- Dominion Energy, Inc. (NYSE:D), formerly Dominion Resources, Inc., announced today that it has successfully remarketed its 2014 Series A 1.50% Remarketable Subordinated Notes due 2020. The optional remarketing was completed pursuant to the terms of the governing documents for the notes that were originally issued as part of Corporate Units of Dominion Energy on July 1, 2014. Effective upon closing of the remarketing, the notes will bear interest at 2.579% per year and be redesignated as Dominion Energy's "2.579% Junior Subordinated Notes due 2020." The remarketing is expected to close on May 18, 2017, subject to customary closing conditions.
On May 4, 2017, Dominion Resources (D) was trading at an EV-to-EBITDA multiple over 15x. Dominion Resources’ five-year historical average stands at 14x.
Dominion Resources (D) reported its 1Q17 earnings on May 4, 2017. The company reported total revenues of ~$3.4 billion compared with its revenues of ~$2.9 billion in 1Q16.