LOS ANGELES, Nov. 18, 2005 (PRIMEZONE) -- Southern California Gas Co. (The Gas Company) 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 5.75 percent, with a stated maturity date of Nov. 15, 2035. The proceeds of the bonds will be used to finance The Gas Company's capital-investment program.
The joint lead managers for the bonds are ABN AMRO and Wachovia; co-managers include HSBC, Merrill Lynch & Co., SG Corporate & Investment Banking, M.R. Beale & Company and Ramirez & Co., Inc. The bonds are rated "A1" by Moody's Investors Service, "A+" by Standard & Poor's Corp. and "AA" by Fitch Ratings.
The Gas Company is the nation's largest natural gas distribution utility, providing safe and reliable energy to 19.5 million consumers through 5.5 million meters. The company's service territory encompasses approximately 20,000 square miles in most of central and Southern California. The Gas Company strives to provide exceptional customer service to enhance the quality of life in the community. The Gas Company is a regulated subsidiary of Sempra Energy (NYSE:SRE). Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company.