|By PR Newswire||
|September 21, 2012 05:30 PM EDT||
LOS ANGELES, Sept. 21, 2012 /PRNewswire/ -- Southern California Gas Co. (SoCalGas), a unit of Sempra Energy (NYSE: SRE), today closed a public offering of $350 million of new 30-year First Mortgage Bonds.
The proceeds from this issuance will be used for general corporate purposes including the repayment of outstanding indebtedness which may include the company's First Mortgage Bonds maturing on Oct. 1, 2012.
SoCalGas engaged four companies to act as joint book runners in this transaction; BNP Paribas Securities Corp., Morgan Stanley, and US Bancorp Investments, Inc. and The Williams Capital Group, L.P., a minority-owned investment bank. In addition, to these joint book runners, there were three minority-owned firms engaged as co-managers for this transaction: Lebenthal & Co., LLC, Loop Capital Markets and MFR Securities, Inc.
The bonds bear an interest rate of 3.75 percent, with interest due and payable on March 15 and Sept. 15 of each year, maturing on Sept. 15, 2042. The bonds are rated "Aa3" by Moody's Investors Service, "A+" by Standard & Poor's Corp, and "AA-" by Fitch.
Southern California Gas Co. has been delivering clean, safe and reliable natural gas to its customers for more than 140 years. It is the nation's largest natural gas distribution utility, providing safe and reliable energy to 20.7 million consumers through nearly 5.8 million meters in more than 500 communities. The company's service territory encompasses approximately 20,000 square miles in diverse terrain throughout Central and Southern California, from Visalia to the Mexican border. Southern California Gas Co. is a regulated subsidiary of Sempra Energy (NYSE: SRE). Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company. To learn more, go to www.socalgas.com.
SOURCE Southern California Gas Co.