SAN DIEGO, May 21, 2004 (PRIMEZONE) -- Sempra Energy (NYSE:SRE) today successfully completed its public offering of $600 million of senior unsecured notes. The proceeds of the issuance will be used to repay $500 million of debt maturing July 1, 2004, and for general corporate purposes.
The offering consisted of $300 million of 4.75-percent, five-year, fixed-rate notes and $300 million of four-year, floating-rate notes. Interest on the floating-rate notes, initially 1.74 percent, will be reset quarterly at the LIBOR index rate, plus 0.47 percent. The floating-rate notes are subject to optional redemption by the company at par after two years.
The lead underwriters for the bonds are ABN AMRO Incorporated, Citigroup and Deutsche Bank Securities. Co-managers are RBS Greenwich Capital, Scotia Capital, SG Corporate & Investment Banking and UBS Investment Bank. The bonds are rated "Baa1" by Moody's Investors Service, "BBB+" by Standard & Poor's Ratings Services and "A" by Fitch Ratings.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2003 revenues of $7.9 billion. The Sempra Energy companies' nearly 13,000 employees serve more than 10 million customers in the United States, Europe, Canada, Mexico, South America and Asia.