8-KOther EventsExhibits & Filings

SEMPRA 8-K Report, Corporate Update (Mar 11, 2022)

Filed March 11, 2022For Securities:SRESREA

Summary

Sempra Energy's indirect subsidiary, San Diego Gas & Electric Company (SDG&E), successfully closed a significant public offering of bonds totaling $1 billion. This offering consisted of $500 million in 3.000% First Mortgage Bonds due 2032 and $500 million in 3.700% First Mortgage Bonds due 2052. These bond issuances are part of SDG&E's ongoing financing activities and are registered under its existing S-3 registration statement. The proceeds will be used by the Company, though specific use of proceeds is not detailed in this filing. Investors should note the fixed interest rates and maturity dates of these new debt instruments, which represent a substantial capital raise for the subsidiary.

Key Highlights

  • 1San Diego Gas & Electric Company (SDG&E), an indirect subsidiary of Sempra Energy, completed a $1 billion public offering of bonds.
  • 2The offering includes $500 million of 3.000% First Mortgage Bonds maturing in 2032.
  • 3The offering also includes $500 million of 3.700% First Mortgage Bonds maturing in 2052.
  • 4Proceeds from the offering will go to SDG&E.
  • 5The bonds were issued under SDG&E's existing S-3 registration statement.
  • 6The issuance involved the execution of new supplemental indentures for both series of bonds.

Frequently Asked Questions

This 8-K filing announces the closing of a public offering and sale of $1 billion in aggregate principal amount of First Mortgage Bonds by Sempra Energy's subsidiary, San Diego Gas & Electric Company (SDG&E).

SDG&E raised a total of $1 billion through the issuance of two series of bonds: $500 million of Series XXX Bonds due 2032 and $500 million of Series YYY Bonds due 2052.

The Series XXX Bonds have a coupon rate of 3.000% and mature on March 15, 2032. The Series YYY Bonds have a coupon rate of 3.700% and mature on March 15, 2052.

The filing states that the proceeds will be for the Company (SDG&E), but it does not specify the exact use of these funds. Typically, such proceeds are used for general corporate purposes, capital expenditures, or refinancing existing debt.