Summary
Sempra Energy (SRE) announced the successful closing of a public offering and sale of $500 million in aggregate principal amount of 4.05% Notes due 2023 on November 22, 2013. The net proceeds from this issuance, after deducting underwriting discounts and estimated expenses, are expected to be close to the principal amount, indicating a favorable borrowing rate. These funds will likely be used for general corporate purposes, supporting Sempra's ongoing operations and strategic initiatives. This debt issuance signals Sempra Energy's access to capital markets at a fixed and relatively low interest rate, which can be beneficial for managing its long-term financial structure. Investors should note the maturity date of December 1, 2023, and the semi-annual interest payment schedule. The filing also references the registration statement and exhibits detailing the terms of the notes and the underwriting agreement, providing transparency into the transaction.
Key Highlights
- 1Sempra Energy closed a $500 million public offering of 4.05% Notes due 2023.
- 2The offering occurred on November 22, 2013.
- 3The notes mature on December 1, 2023.
- 4Interest on the notes is 4.05% per annum, payable semi-annually.
- 5Proceeds were received at approximately 99.015% of the principal amount before expenses.
- 6The issuance was registered under Sempra's Form S-3 Registration Statement.
- 7The filing includes exhibits such as the underwriting agreement and the form of the notes.