8-KOther EventsExhibits & Filings

SEMPRA 8-K Report, Corporate Update (Jun 23, 2023)

Filed June 23, 2023For Securities:SRESREA

Summary

Sempra (SRE) filed an 8-K on June 23, 2023, to report the closing of a significant public offering of new debt securities. The company successfully issued $550 million in 5.400% Notes due 2026 and $700 million in 5.500% Notes due 2033, raising a total of approximately $1.239 billion in gross proceeds before other expenses. This capital raise is expected to support Sempra's ongoing operations and strategic initiatives. The issuance of these notes, registered under an effective Form S-3 registration statement, provides Sempra with substantial liquidity. The 2026 notes mature in August 2026, while the 2033 notes mature in August 2033, both carrying semi-annual interest payments. Investors should note the specific coupon rates and maturity dates, as well as the company's option to redeem these notes prior to maturity.

Key Highlights

  • 1Sempra successfully closed a public offering of debt, raising approximately $1.239 billion.
  • 2Issued $550 million in 5.400% Notes due 2026.
  • 3Issued $700 million in 5.500% Notes due 2033.
  • 4Proceeds are expected to fund company operations and strategic initiatives.
  • 5The offering was registered under an effective Form S-3 registration statement.
  • 6Both note series accrue interest from June 23, 2023, and pay semi-annually starting February 1, 2024.
  • 7The notes are redeemable prior to maturity at the company's option.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report the closing of Sempra's public offering and sale of $550 million of 5.400% Notes due 2026 and $700 million of 5.500% Notes due 2033.

Sempra raised approximately $1.239 billion in gross proceeds from the sale of these notes, after deducting underwriting discounts but before other offering expenses.

The 2026 notes have a 5.400% interest rate and mature on August 1, 2026. The 2033 notes have a 5.500% interest rate and mature on August 1, 2033. Both series pay interest semi-annually, starting February 1, 2024, and are redeemable prior to maturity at Sempra's option.

While not explicitly detailed in this specific filing beyond general operational support, the proceeds are typically used for general corporate purposes, which can include funding ongoing operations, capital expenditures, debt repayment, or strategic investments.