SAN DIEGO, Feb. 2, 2005 (PRIMEZONE) -- Sempra Energy (NYSE:SRE) today announced that it expects on Feb. 14, 2005, to remarket its 5.60-percent Senior Notes due 2007 originally issued as part of its 24 million Income Equity Units (NYSE:SRE Pr). If the remarketing is successful, holders of record on Feb. 11, 2005, of the outstanding Income Equity Units and holders of Senior Notes held separately from the Income Equity Units who elect to participate in the remarketing will receive the remaining proceeds, if any, from the remarketing after deduction of the amount described below.
An amount will be deducted from the total proceeds of the remarketing equal to the sum of: 1) the price per note sufficient to purchase the portfolio of U.S. Treasury securities to be substituted for the Senior Notes as a component of the Income Equity Units, multiplied by the total number of Senior Notes remarketed; and 2) the remarketing fee payable to the remarketing agents from the proceeds of the remarketing. The payment of such remaining proceeds, if any, will be made on a date to be determined after the settlement date of the remarketing, which is expected to be Feb. 17, 2005.
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’ 13,000 employees serve more than 10 million customers in the United States, Europe, Canada, Mexico, South America and Asia.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When the company uses words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "would," "should" or similar expressions, or when the company discusses its strategy or plans, the company is making forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: national, international, regional and local economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, the California State Legislature, the California Department of Water Resources, the Federal Energy Regulatory Commission and other regulatory bodies in the United States and other countries; capital market conditions, inflation rates, interest rates and exchange rates; energy and trading markets, including the timing and extent of changes in commodity prices; the availability of natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental, and legal decisions and requirements; the pace of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; and other uncertainties, all of which are difficult to predict and many of which are beyond the company’s control. These risks and uncertainties are further discussed in the company’s reports filed with the Securities and Exchange Commission that are available through the EDGAR system without charge at its Web site, www.sec.gov and on the company’s Web site, www.sempra.com.