Summary
Sempra Energy (SRE) announced the successful closing of a public offering and sale of $850 million in Floating Rate Notes due 2021. The offering, registered under a Form S-3, generated net proceeds of approximately 99.65% of the principal amount, after deducting underwriting discounts. These funds are intended to support the company's operations and strategic initiatives. The Notes mature on March 15, 2021, with interest accruing from October 13, 2017, and payable quarterly. A key feature for investors is that the Notes are not redeemable at the company's option, providing a fixed maturity date without early call risk. The filing also includes associated exhibits such as the underwriting agreement and the form of the note.
Key Highlights
- 1Sempra Energy closed a $850 million public offering of Floating Rate Notes due 2021.
- 2Net proceeds to the company were approximately 99.65% of the principal amount after underwriting discounts.
- 3The Notes mature on March 15, 2021.
- 4Interest on the Notes accrues from October 13, 2017, and is payable quarterly.
- 5The Notes are not redeemable at Sempra Energy's option.
- 6The offering was registered under Sempra's Form S-3 Registration Statement (No. 333-220257).
- 7Key transaction documents, including the underwriting agreement and the form of the note, are filed as exhibits.