Summary
Sempra Energy (SRE) filed an 8-K report on March 13, 2015, announcing the successful closing of a public offering and sale of $500 million in aggregate principal amount of 2.40% Notes due 2020. The offering was registered under the company's Form S-3 registration statement. The net proceeds to Sempra Energy, after deducting underwriting discounts and an estimated $500,000 in other expenses, were approximately 99.316% of the principal amount. These newly issued notes will mature on March 15, 2020, and will bear interest from March 13, 2015, with semi-annual payments on March 15 and September 15 each year, starting September 15, 2015. The company retains the option to redeem the notes prior to maturity under specified conditions outlined in the note's form. This debt issuance provides Sempra Energy with additional capital, likely for general corporate purposes or to fund its ongoing operational and capital expenditure needs.
Key Highlights
- 1Sempra Energy closed a public offering of $500 million in 2.40% Notes due 2020.
- 2The notes mature on March 15, 2020.
- 3Interest on the notes is 2.40% per annum, payable semi-annually.
- 4Proceeds to the company were approximately 99.316% of the principal amount, after underwriting discounts.
- 5Estimated other expenses associated with the offering were approximately $500,000.
- 6The offering was registered under Sempra Energy's Form S-3 registration statement.
- 7The company has the option to redeem the notes prior to maturity.