Dominion Energy (NYSE: D) today announced the successful syndication of sustainability-linked credit facilities totaling $6.9 billion, furthering its ongoing commitment to a sustainable future.
- $6.0 billion master credit facility extended to 2026
- $0.9 billion supplemental credit facility expiring in 2024
The master credit facility links pricing to achievement of annual renewable electric generation and diversity & inclusion milestones. The supplemental facility presents a first of its kind structure whereby pricing benefits accrue for draws related to qualified environmental and social spending programs.
James R. Chapman, executive vice president, chief financial officer and treasurer said “These green financings support our corporate sustainability objectives and complement our industry leadership around environmental, social, and governance strategies, while providing us with the flexibility to finance our $32 billion five-year growth capital plan— over 80% of which is for emissions reduction or enabling technologies.”
Sustainable finance is part of Dominion Energy’s ESG strategy and commitment to building a clean and sustainable energy future. Dominion Energy is focusing on clean energy goals that include achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050 and offering what Dominion Energy believes is the largest regulated decarbonization investment opportunity in the country.
For the master credit facility, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd. (“Mizuho”), BofA Securities, Inc., The Bank of Nova Scotia (“Scotiabank”), and Wells Fargo Securities, LLC acted as Joint Lead Arrangers. J.P. Morgan Securities LLC and Mizuho acted as Co-Sustainability Structuring Agents.
For the supplemental credit facility, Sumitomo Mitsui Banking Corporation (“SMBC”), Scotiabank and TD Securities (USA) LLC acted as Joint Lead Arrangers and Joint Bookrunners and SMBC acted as Sustainability Coordinator.
About Dominion Energy
More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.
