Dominion Midstream Partners Prices Initial Public Offering

Oct 14, 2014

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

Citigroup

Attn: Broadridge Financial Solutions

c/o Broadridge Financial Solutions

1155 Long Island Avenue

1155 Long Island Avenue

Edgewood, New York 11717

Edgewood, New York 11717

E-mail: barclaysprospectus@broadridge.com

E-mail: prospectus@citi.com

Telephone: (888) 603-5847

Telephone: (800) 831-9146





J.P. Morgan


c/o Broadridge Financial Solutions


1155 Long Island Avenue


Edgewood, New York 11717


Telephone: (866) 803-9204


 

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

For further information: Media: Ryan Frazier, (804) 819-2521 or C.Ryan.Frazier@dom.com, Chet Wade, (804) 775-5697 or Chet.Wade@dom.com, Financial analysts: Kristy Babcock, (804) 819-2492 or Kristy.R.Babcock@dom.com


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