Wed, Aug 14, 8:05 PM (153 days ago)
On August 14, 2024, Southern California Gas Company, a subsidiary of Sempra, completed a public offering of $600,000,000 in 5.050% First Mortgage Bonds due 2034. The bonds, which were issued under a Supplemental Indenture, will mature on September 1, 2034, and will accrue interest at 5.050% per annum, payable semiannually starting March 1, 2025. The net proceeds from the offering, after underwriting discounts and estimated expenses of approximately $1.6 million, amounted to 98.864% of the total principal. The bonds are redeemable prior to maturity at the company's discretion. This financing move is expected to enhance the company’s liquidity and financial position, potentially impacting Sempra's stock value positively. The offering is registered under Form S-3. Further details are available in the accompanying exhibits, including the Underwriting Agreement.