RICHMOND, Va., Oct. 14, 2014 /PRNewswire/ -- Dominion Midstream
Partners, LP (Dominion Midstream), a Delaware limited partnership and a subsidiary
of Dominion Resources, Inc. (Dominion) (NYSE: D), today announced
the pricing of its initial public offering of 17,500,000 common
units representing limited partner interests in Dominion Midstream
at $21.00 per common unit pursuant to
a Registration Statement on Form S-1 previously filed with the U.S.
Securities and Exchange Commission (SEC). Dominion Midstream
has also granted the underwriters a 30-day option to purchase up to
an additional 2,625,000 common units at the initial public offering
price. The common units are expected to begin trading on the New
York Stock Exchange on Oct. 15, 2014
under the ticker symbol "DM." The offering is expected to close on
or about Oct. 20, 2014, subject to
customary closing conditions.
Upon closing of the offering, the public will own a 27.4 percent
limited partner interest in Dominion Midstream, or a 31.5 percent
limited partner interest if the underwriters exercise in full their
option to purchase additional common units. Dominion, through
certain of its subsidiaries, will own the remaining 72.6 percent
limited partner interest in Dominion Midstream, or a 68.5 percent
limited partner interest if the underwriters exercise in full their
option to purchase additional common units, and the general partner
of Dominion Midstream, which entity is the holder of all of
Dominion Midstream's incentive distribution rights.
Barclays, Citigroup, J.P. Morgan, BofA Merrill Lynch, Goldman,
Sachs & Co., UBS Investment Bank and Morgan Stanley are acting
as joint book-running managers for the offering. RBC Capital
Markets and Scotiabank / Howard
Weil are acting as co-managers for the offering.
The offering of these securities is being made only by means of
a written prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended. When available, a copy of the
final prospectus may be obtained from:
Barclays
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Citigroup
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Attn: Broadridge
Financial Solutions
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c/o Broadridge
Financial Solutions
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1155 Long Island
Avenue
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1155 Long Island
Avenue
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Edgewood, New York
11717
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Edgewood, New York
11717
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E-mail:
barclaysprospectus@broadridge.com
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E-mail:
prospectus@citi.com
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Telephone: (888)
603-5847
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Telephone: (800)
831-9146
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|
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J.P.
Morgan
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c/o Broadridge
Financial Solutions
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1155 Long Island
Avenue
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Edgewood, New York
11717
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Telephone: (866)
803-9204
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The registration statement and, when available, the final
prospectus may be obtained free of charge at the SEC's website,
www.sec.gov, under the registrant's name "Dominion Midstream
Partners, LP."
A registration statement relating to these securities has been
filed with the SEC and declared effective. This news release shall
not constitute an offer to sell or a solicitation of an offer to
buy the securities, nor shall there be any sale of these securities
in any state or jurisdiction in which such an offer, solicitation
or sale would be unlawful prior to registration or qualification
under the securities laws of any such state or jurisdiction.
About Dominion Midstream
Dominion Midstream is a
growth-oriented Delaware limited
partnership formed on March 11, 2014,
by Dominion to initially own all of the outstanding preferred
equity interests in Dominion Cove Point LNG, LP, a Delaware limited partnership, which owns
liquefied natural gas import, storage, regasification and
transportation assets. It is headquartered in Richmond, Va.
This release contains certain forward-looking statements that
are based on current plans and expectations and are subject to
various risks and uncertainties. Our business and any
offering may be influenced by many factors that are difficult to
predict, involve uncertainties that may materially affect actual
results and are often beyond our control. These factors include,
but are not limited to, changes to business plans as circumstances
warrant, general market conditions or other factors. For a full
discussion of these risks and uncertainties, please refer to the
"Risk Factors" section of the Registration Statement on Form S-1
and the information included in subsequent filings made with the
SEC. We refer you to those discussions for further
information.
SOURCE Dominion Midstream Partners, LP