Summary
Sempra Energy (SRE) filed an 8-K on November 17, 2015, to report the successful closing of a public offering and sale of new debt securities. The company issued $400 million of 2.85% Notes due 2020 and $350 million of 3.75% Notes due 2025, raising a total of $750 million before deducting underwriting discounts and other expenses. The net proceeds from this offering, after accounting for underwriting discounts, were approximately 99.294% of the principal for the 2020 Notes and 99.078% for the 2025 Notes. This debt issuance, registered under a Form S-3 registration statement, provides Sempra Energy with additional capital, likely for general corporate purposes or to fund ongoing projects and operations.
Key Highlights
- 1Sempra Energy closed a public offering of debt securities on November 17, 2015.
- 2The offering consisted of $400 million aggregate principal amount of 2.85% Notes due 2020.
- 3The offering also included $350 million aggregate principal amount of 3.75% Notes due 2025.
- 4Total aggregate principal amount of notes issued was $750 million.
- 5Net proceeds, after underwriting discounts but before other expenses, were strong, reflecting a premium or minimal discount on the sale.
- 6The issuance was registered under Sempra Energy's Form S-3 registration statement (No. 333-198572).
- 7The notes mature on November 15, 2020 (2020 Notes) and November 15, 2025 (2025 Notes).