SAN DIEGO, Sept. 20, 2007 – San Diego Gas & Electric (SDG&E), a unit of Sempra Energy (NYSE: SRE), today closed a public offering of $250 million of 30-year first-mortgage bonds.
The bonds have an interest rate of 6.125 percent, with a stated maturity date of Sept. 15, 2037. The proceeds of the bonds will be used to finance SDG&E’s capital- investment program.
The joint lead managers for the bonds are Deutsche Bank Securities, Calyon and Wachovia Securities; co-managers are Merrill Lynch & Co., Morgan Stanley, Blaylock & Company, Guzman & Company, Loop Capital Markets and Utendahl Capital Partners. The bonds are rated “A1” by Moody’s Investors Service, “A+” by Standard & Poor’s Corp. and “AA” by Fitch Ratings.
SDG&E currently serves 3.4 million consumers through 1.4 million electric meters and more than 830,000 natural gas meters. The utility’s service area spans 4,100 square miles and serves customers in more than 125 communities from Southern Orange County to the Mexican border. SDG&E 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.sdge.com.