Summary
Sempra Energy (SRE) reported the closing of a public offering for $500 million in aggregate principal amount of 2.875% Notes due 2022. This debt issuance, which occurred on September 24, 2012, generated net proceeds for the company of approximately 99.315% of the principal amount, before other estimated expenses of $250,000. The offering was registered under a previously filed Form S-3 registration statement. The notes mature on October 1, 2022, with interest payable semi-annually beginning April 1, 2013. The company retains the option to redeem these notes prior to maturity, subject to specific terms outlined in the note's form. This debt offering provides Sempra Energy with additional capital, which can be utilized for various corporate purposes, including funding ongoing operations, capital expenditures, or future strategic initiatives. Investors in these notes are primarily lending capital to Sempra Energy in exchange for a fixed interest rate of 2.875% until maturity. The company's ability to meet its interest and principal repayment obligations will be a key factor for noteholders.
Key Highlights
- 1Sempra Energy closed a public offering of $500 million in 2.875% Notes due 2022.
- 2The notes mature on October 1, 2022.
- 3The offering generated net proceeds of approximately 99.315% of the principal amount, totaling roughly $496.575 million before additional expenses.
- 4Interest on the notes is payable semi-annually starting April 1, 2013.
- 5The notes are redeemable by Sempra Energy prior to maturity under specified conditions.
- 6The debt offering was registered under a Form S-3 registration statement (No. 333-176855).
- 7Key exhibits filed include the Underwriting Agreement and the form of the 2.875% Note due 2022.