Dominion Energy (NYSE: D) today announced that it has successfully secured commitments totaling $3 billion from over 20 lenders for its three-year, non-amortizing, Cove Point term loan facility. The facility is expected to close and fund later this month. Initial drawn pricing for the term loan is set at Libor plus 1.375%.

Dominion Energy 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 percent, representing significant progress toward achieving Dominion Energy's credit objectives.

Mark F. 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."

Nearly 6 million customers in 19 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 is one of the nation's largest producers and transporters of energy with over $78 billion of assets providing electric generation, transmission and distribution, as well as natural gas storage, transmission, distribution, and import/export services. As one of the nation's leading solar operators, the company intends to reduce its carbon intensity 50 percent by 2030. Through its Dominion Energy Charitable Foundation, as well as EnergyShare and other programs, Dominion Energy plans to contribute more than $30 million in 2018 to community causes throughout its footprint and beyond. Please visit www.DominionEnergy.com, Facebook or Twitter to learn more.