Summary
Sempra Energy (SRE) has filed an 8-K report detailing the successful closing of a public offering for $500 million in 6.15% Senior Notes due in 2018. This offering, registered under their Form S-3, generated net proceeds of approximately $496.875 million after underwriting discounts but before other estimated expenses of $250,000. The issuance of these notes represents a significant capital raise for the company, likely intended to fund ongoing operations, capital expenditures, or debt refinancing. Investors should note the fixed interest rate of 6.15% and the ten-year maturity date of June 15, 2018. The notes are redeemable prior to maturity at the company's option, with specific terms outlined in the associated documentation. This offering occurred on June 12, 2008, and the details of the underwriting and pricing agreements are publicly available as exhibits to this filing, providing transparency on the terms of the debt issuance.
Key Highlights
- 1Sempra Energy successfully closed a public offering of $500 million aggregate principal amount of 6.15% Notes due 2018 on June 12, 2008.
- 2Net proceeds from the offering, after underwriting discounts, were approximately 99.312% of the principal amount.
- 3The Notes mature on June 15, 2018, providing a ten-year financing term.
- 4Interest on the Notes is payable semi-annually on June 15 and December 15, with the first payment due December 15, 2008.
- 5The Notes are redeemable prior to maturity at Sempra Energy's discretion, subject to terms outlined in the Note's form.
- 6The offering was registered under Sempra Energy's Form S-3 registration statement.
- 7Key documentation, including the Underwriting Agreement and Pricing Agreement, are attached as exhibits to this 8-K filing.