SAN DIEGO, May 19, 2005 (PRIMEZONE) -- 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 5.35 percent, with a stated maturity date of May 15, 2035. The proceeds of the bonds will be used to finance SDG&E's capital-investment program.
The joint lead managers for the bonds are Goldman, Sachs & Co. and UBS Investment Bank; co-managers were Banc of America Securities LLC, Calyon Securities (USA), Deutsche Bank Securities and SG Corporate & Investment Bank. The bonds are rated "A1" by Moody's Investors Service, "A+" by Standard & Poor's Corp., and "AA" by Fitch Ratings.
SDG&E is a regulated public utility that provides safe and reliable energy service to 3.3 million consumers through 1.3 million electric meters and more than 800,000 natural gas meters. The company's service territory encompasses 4,100 square miles in San Diego and southern Orange counties. Exceptional customer service is a priority of SDG&E as it seeks to enhance the region's quality of life. SDG&E is a regulated subsidiary of Sempra Energy. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company.