Sempra said it closed the public offering of its 6.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054 on March 14, 2024, with total principal of $600,000,000.

1. 01

   Sempra said it closed the public offering of its 6.875% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054 on March 14, 2024, with total principal of $600,000,000.

2. 02

   Sempra said proceeds to the company, after deducting underwriting discounts but before other expenses of about $1.5 million, were about $594.0 million. The offering price was 99.994% of the aggregate principal amount.

3. 03

   The company said the notes will bear interest at 6.875% per year from March 14, 2024 to, but excluding, October 1, 2029, and will then reset at the Five-year U.S. Treasury Rate plus 2.789%. The company may defer interest for up to 20 consecutive semi-annual interest payment periods, provided no event of default has occurred and is continuing.

4. 04

   The company said it may redeem some or all of the notes, in whole or in part, during the period 90 days before October 1, 2029 and on any interest payment date thereafter, at 100% of principal plus unpaid interest. The notes were sold to underwriters, including BofA Securities, Inc., under an underwriting agreement dated March 11, 2024.

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