8-KOther EventsExhibits & Filings

SEMPRA 8-K Report, Corporate Update (Mar 25, 2025)

Filed March 25, 2025For Securities:SRESREA

Summary

Sempra Energy's indirect subsidiary, San Diego Gas & Electric Company (SDG&E), has entered into an underwriting agreement to issue and sell $850 million in 5.400% First Mortgage Bonds, Series CCCC, due in 2035. These bonds will be offered publicly at a price of 99.720% of their principal amount, representing a slight discount to par value. This debt issuance is being conducted under an effective shelf registration statement filed with the SEC. The offering is a standard part of capital management for utility companies, aimed at funding operations and potentially new projects. Investors should note that this is a debt offering by a subsidiary, and its proceeds will be used by SDG&E. The filing does not constitute an offer to sell or solicitation to buy, but rather provides notice of the agreement to issue and sell these securities.

Key Highlights

  • 1San Diego Gas & Electric Company (SDG&E), an indirect subsidiary of Sempra, issued $850 million in 5.400% First Mortgage Bonds, Series CCCC.
  • 2The bonds have a maturity date of 2035.
  • 3The offering is a registered public offering under an effective shelf registration statement on Form S-3.
  • 4The bonds are being sold at a public offering price of 99.720% of their aggregate principal amount.
  • 5The underwriting agreement was entered into on March 24, 2025.
  • 6The filing details the underwriting agreement with several representatives including CIBC World Markets Corp., Morgan Stanley & Co. LLC, TD Securities (USA) LLC, and U.S. Bancorp Investments, Inc.

Frequently Asked Questions

This is a debt issuance by SDG&E, a subsidiary of Sempra. Such issuances are typical for utility companies to raise capital for their operations, infrastructure investments, and to manage their overall capital structure.

The bonds are being issued by San Diego Gas & Electric Company (SDG&E), which is an indirect subsidiary of Sempra Energy (SRE).

The bonds carry a coupon rate of 5.400% and have a maturity date in 2035, meaning they are 10-year bonds as of the issuance date.

While Sempra Energy (SRE) is the parent company, the direct issuer of these bonds is its subsidiary, San Diego Gas & Electric Company (SDG&E). The proceeds will be used by SDG&E.