TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
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June 10, 2021
Source: PR Newswire
- Sustainability-linked credit facilities to provide up to $6.9bn of liquidity
- First of its kind structure encourages use of proceeds for green and social spending programs
- Demonstrates Dominion Energy's environmental, social, and governance industry leadership
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.
