Sempra said it closed the public offering of its 6.400% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054 on September 9, 2024. The aggregate principal amount was $1,250,000,000.

1. 01

   Sempra said it closed the public offering of its 6.400% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054 on September 9, 2024. The aggregate principal amount was $1,250,000,000.

2. 02

   The company said proceeds from the sale of the notes were about $1,238 million, after underwriting discounts but before offering expenses estimated at about $2.6 million. The notes were priced at 100.000% of principal.

3. 03

   The company said the notes bear interest at 6.400% per year from September 9, 2024 to, but excluding, October 1, 2034, and thereafter during each Reset Period at the Five-year U.S. Treasury Rate plus 2.632% per year. Interest is payable semi-annually in arrears on April 1 and October 1, with the first interest payment due on April 1, 2025.

4. 04

   The company said it may defer interest payments for one or more periods of up to 20 consecutive semi-annual interest payment periods each, so long as no event of default has occurred and is continuing. It also said it may redeem some or all of the notes on any day from 90 days before October 1, 2034, and at 100% of principal plus accrued and unpaid interest.

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Original filing

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