Deals this week: Dominion Resources, Huaneng Power International, Brookfield Renewable Partners

11 August 2016 (Last Updated August 11th, 2016 18:30)

Dominion Resources has announced the pricing of its 25 million 2016-series A equity units at $50 a unit, to raise $1.25bn through a public offering to underwriters.

Dominion Resources has announced the pricing of its 25 million 2016-series A equity units at $50 a unit, to raise $1.25bn through a public offering to underwriters.

The underwriters have also been granted an option to acquire an additional three million equity units to cover over-allotments, if any.

The offering is expected to close on 15 August.

"McGuireWoods is acting as the legal adviser to Dominion Resources on the deal."

The joint book-running managers for the transaction are RBC Capital Markets, Mizuho Securities USA, Credit Suisse Securities (USA), Wells Fargo Securities, BNP Paribas Securities, Deutsche Bank Securities, MUFG Securities Americas, Scotia Capital (USA), SunTrust Robinson Humphrey, and US Bancorp Investments.

McGuireWoods is acting as the legal adviser to Dominion Resources on the deal.

Huaneng Power International has raised CNY3bn ($450.03m) through the completion of the first tranche of public offering of its 2.5% short-term debentures, due 10 August next year, to The Bank of China, the underwriter.

The proceeds from the offering are intended to be used for working capital purposes.

Brookfield Renewable Partners has agreed to issue its 3.63% series-10 medium-term notes, due 15 January 2027, to a syndicate of underwriters including CIBC World Markets, Scotia Capital, TD Securities, RBC Dominion Securities, BMO Nesbitt Burns, HSBC Securities (Canada), and National Bank Financial.

The offering is expected to be completed on or about 12 August 2016. Brookfield Renewable Partners intends to raise C$500m ($379.72m) from the offering, which will be used to repay its outstanding indebtedness and for general corporate purposes.

Torys LLP is acting as legal adviser to the company for the offering.

Pattern Energy Group has reached an agreement to issue ten million of its class A shares, to a group of underwriters led by RBC Capital Markets, BMO Capital Markets, and Morgan Stanley & Co.

The offering is expected to close on or about 12 August, and the gross proceeds from the offering, estimated at $239m, are intended to be used for funding future acquisitions, repayment of its revolving credit facility, and for general corporate purposes.

The underwriters have also been granted an option to acquire an additional 1.5 million shares to cover over-allotments, if any. The gross proceeds from the offering will increase to $274.9m if the option is exercised in full.