Southern California Gas Co. Finalizes $650M Bond Offering Due 2056

summarizeSummary

Southern California Gas Company has finalized the terms for a $650 million offering of 5.900% First Mortgage Bonds due 2056, securing significant long-term financing.

check_boxKey Events

• Bond Offering Finalized

  Southern California Gas Company will issue $650 million in 5.900% First Mortgage Bonds, Series FFF, due June 1, 2056.

• Pricing and Proceeds

  The bonds are priced at 99.536% of par, yielding 5.933% to maturity, with net proceeds of approximately $641.3 million after underwriting discounts.

• Investment-Grade Ratings

  The bonds received stable investment-grade ratings from Moody's (Aa3), S&P (A), and Fitch (AA-), reflecting the company's creditworthiness.

auto_awesomeAnalysis

This filing details the final terms of Southern California Gas Company's $650 million bond offering. The issuance of these long-term, investment-grade bonds provides substantial capital, likely for general corporate purposes, capital expenditures, or refinancing existing debt, strengthening the company's financial position and ensuring funding for its operations.