8-KOther EventsExhibits & Filings

SEMPRA 8-K Report, Corporate Update (Mar 20, 2026)

Filed March 20, 2026For Securities:SRESREA

Summary

This 8-K filing from Sempra Energy (SRE) reports on the closing of a public offering by its indirect subsidiary, San Diego Gas & Electric Company (SDG&E). SDG&E successfully issued and sold $625 million in 5.200% First Mortgage Bonds due 2036 (Series DDDD Bonds) and $475 million in 5.950% First Mortgage Bonds due 2056 (Series EEEE Bonds). The net proceeds, after deducting underwriting discounts and estimated offering expenses of $2.6 million, will be used by SDG&E to fund its operations and capital expenditures. This offering was registered under SDG&E's existing Form S-3 registration statement. For investors, this offering represents a significant debt issuance by a key subsidiary, aimed at strengthening its financial position and supporting future growth initiatives. The bonds have fixed interest rates and are secured by SDG&E's first mortgage liens, providing a level of security for bondholders. The maturity dates extend to 2036 and 2056, indicating long-term financing for the company. Investors should note the terms and conditions associated with these new bond issuances, as detailed in the supplemental indentures filed with this report.

Key Highlights

  • 1San Diego Gas & Electric Company (SDG&E), an Sempra subsidiary, closed a public offering of $625 million in 5.200% First Mortgage Bonds, Series DDDD, due 2036.
  • 2SDG&E also issued $475 million in 5.950% First Mortgage Bonds, Series EEEE, due 2056.
  • 3Total aggregate principal amount of debt issued is $1.1 billion.
  • 4Proceeds from the offering will be used by SDG&E for its general corporate purposes, likely including capital expenditures.
  • 5The bonds are registered under SDG&E's existing Form S-3 registration statement (File No. 333-269677).
  • 6The Series DDDD Bonds carry a fixed interest rate of 5.200% and mature on March 15, 2036.
  • 7The Series EEEE Bonds carry a fixed interest rate of 5.950% and mature on March 15, 2056.
  • 8Interest payments for both series are semiannual, commencing September 15, 2026.

Frequently Asked Questions

San Diego Gas & Electric Company raised a total of $1.1 billion by issuing $625 million in Series DDDD Bonds and $475 million in Series EEEE Bonds.

The Series DDDD Bonds have a principal amount of $625 million, a fixed interest rate of 5.200%, and mature on March 15, 2036. The Series EEEE Bonds have a principal amount of $475 million, a fixed interest rate of 5.950%, and mature on March 15, 2056. Both series pay interest semiannually.

The proceeds, after deducting underwriting discounts and offering expenses, will be used by San Diego Gas & Electric Company for its general corporate purposes, which typically include funding capital expenditures and supporting ongoing operations.

This filing specifically pertains to debt issued by SDG&E, a subsidiary. While it increases SDG&E's leverage, the impact on Sempra's consolidated financial position and credit rating would depend on Sempra's overall capital structure and its guarantee policies. Investors should refer to Sempra's consolidated financial statements and credit rating agency reports for a comprehensive view.