Dominion Energy completed the syndication of sustainability-linked credit facilities totaling $6.9 billion, including a $6 billion master credit facility, which was extended to 2026, and a $900 million supplemental credit facility, which will expire in 2024.

For the master credit facility, JPMorgan Chase Bank, Mizuho Bank, BofA Securities, The Bank of Nova Scotia and Wells Fargo Securities acted as joint lead arrangers. J.P. Morgan Securities and Mizuho acted as co-sustainability structuring agents.

For the supplemental credit facility, Sumitomo Mitsui Banking, Scotiabank and TD Securities acted as joint lead arrangers and joint bookrunners and SMBC acted as sustainability coordinator.

The master credit facility links pricing to the achievement of annual renewable electric generation and diversity and inclusion milestones. According to Dominion Energy, the supplemental facility presents a first of its kind structure whereby pricing benefits accrue for draws related to qualified environmental and social spending programs.

“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,” James R. Chapman, executive vice president, CFO and treasurer at Dominion Energy, said.