Dominion Energy secures Cove Point loan
Published by Will Owen,
Editor
LNG Industry,
Dominion Energy announced that it has successfully secured commitments totalling US$3 billion from over 20 lenders for its three-year, non-amortising, Cove Point term loan facility.
The US LNG company intends to use the proceeds from the financing to reduce parent-level debt. As a result, parent level debt as a percentage of total company debt will fall by approximately 8%, representing significant progress toward achieving Dominion Energy's credit objectives.
Mark McGettrick, executive vice president and chief financial officer, said:
“We have been very pleased with the strong interest among lenders to participate in this important financing which has resulted in very attractive terms. Today's announcement represents another milestone toward successfully completing the previously announced credit improvement initiatives which demonstrate our commitment to a strong credit profile.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/05092018/dominion-energy-secures-cove-point-loan/
You might also like
Crown LNG selects IKM Consulting Ltd as engineering design partner for Grangemouth LNG project
Crown LNG Holdings Ltd has selected IKM Engineering & Environmental Consultants as its partner for the design and engineering of its planned 100% owned floating LNG import terminal in the Firth of Forth, Scotland.