Summary
Sempra Energy (SRE) has filed an 8-K report detailing the successful closing of a public offering for $750 million in aggregate principal amount of 6.50% Notes due 2016. The offering, registered under a Form S-3, closed on May 15, 2009, with net proceeds to the company of approximately 99.153% of the principal amount, after deducting underwriting discounts. The net proceeds, estimated at $743.6 million before other expenses, will be used for general corporate purposes. This issuance represents a significant debt financing event for Sempra Energy, indicating the company's ability to access capital markets during that period. Investors should note the maturity date of June 1, 2016, and the semi-annual interest payments of 6.50% beginning December 1, 2009. The company also provided information regarding the redemption options for these notes, as detailed in the accompanying exhibits.
Key Highlights
- 1Sempra Energy closed a public offering of $750 million aggregate principal amount of 6.50% Notes due 2016.
- 2The offering closed on May 15, 2009.
- 3Net proceeds to the company were approximately 99.153% of the principal amount, totaling roughly $743.6 million before other expenses.
- 4The proceeds are intended for general corporate purposes.
- 5The notes mature on June 1, 2016.
- 6Interest payments are semi-annual at a 6.50% rate, starting December 1, 2009.
- 7The company retains the option to redeem the notes prior to maturity under specified conditions.