Dominion Midstream Partners launches IPO

Dominion Midstream Partners LP

Dominion Midstream Partners LP, a Delaware limited partnership and a subsidiary of Dominion Resources Inc. (Dominion) (NYSE: D), has launched its initial public offering of 17,500,000 common units representing limited partner interests pursuant to a Registration Statement on Form S-1 previously filed with the US Securities and Exchange Commission (SEC).

Dominion Midstream also expects to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 common units at the initial public offering price. Dominion Midstream has been approved to list its common units on the New York Stock Exchange under the ticker symbol "DM," subject to official notice of issuance.

The common units being offered represent a 27.4% limited partner interest in Dominion Midstream, or a 31.5% 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% limited partner interest in Dominion Midstream, or 68.5% if the underwriters exercise in full their option to purchase additional common units, as well as the general partner of Dominion Midstream, which entity is the holder of all of Dominion Midstream's incentive distribution rights.

Barclays, Citigroup, JP 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.

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