Southern California Gas Co. Prices $650M First Mortgage Bond Offering

summarizeSummary

Southern California Gas Company, a Sempra subsidiary, priced a $650 million offering of 5.900% First Mortgage Bonds due 2056, securing capital for its operations.

check_boxKey Events

• Bond Offering Priced

  Southern California Gas Company entered into an underwriting agreement to issue and sell $650,000,000 aggregate principal amount of its 5.900% First Mortgage Bonds, Series FFF, due 2056.

• Offering Terms

  The bonds were offered at a public offering price of 99.536% of the aggregate principal amount, with a yield to maturity of 5.933%.

• Net Proceeds

  The company expects to receive approximately $641.3 million in net proceeds from the sale, after deducting underwriting discounts.

• Underwriters

  BNP Paribas Securities Corp., CIBC World Markets Corp., Mizuho Securities USA LLC, and Wells Fargo Securities, LLC are acting as representatives for the underwriters.

auto_awesomeAnalysis

Southern California Gas Company, an indirect subsidiary of Sempra, has finalized the terms for a $650 million public offering of First Mortgage Bonds. This debt issuance is a routine but significant capital raise for a utility, providing funds for general corporate purposes and supporting its ongoing infrastructure investments. The offering is priced at a slight discount, which is typical for bond issuances, and contributes to Sempra's overall capital plan for its utility operations.