Summary
Sempra Energy (SRE) filed an 8-K report on November 20, 2008, to announce the successful closing of a significant debt offering. The company issued $250 million in 8.90% Notes due 2013 and $500 million in 9.80% Notes due 2019, totaling $750 million in aggregate principal amount. These notes were registered under the company's Form S-3 registration statement. The primary purpose of this filing is to inform investors about the completion of this financing. The proceeds from the sale of these notes will be used by Sempra Energy for general corporate purposes. The offering was conducted with underwriting discounts and the company incurred estimated expenses of approximately $250,000. This action indicates Sempra Energy's strategy to secure long-term funding, likely to support its ongoing operations and potential growth initiatives, especially during a period of economic uncertainty.
Key Highlights
- 1Sempra Energy closed a public offering of $250 million in 8.90% Notes due 2013.
- 2Sempra Energy closed a public offering of $500 million in 9.80% Notes due 2019.
- 3Total aggregate principal amount of notes issued is $750 million.
- 4The offering was registered under Sempra Energy's Form S-3 registration statement.
- 5Proceeds from the offering are intended for general corporate purposes.
- 6The 2013 Notes mature on November 15, 2013, and the 2019 Notes mature on February 15, 2019.
- 7The Notes are redeemable prior to maturity at the company's option, with specific terms detailed in accompanying exhibits.