By Aleesia Forni
Virginia Beach, March 10 – Sempra Energy priced a $500 million issue of 2.4% five-year senior notes (Baa1/BBB+/BBB+) on Tuesday at Treasuries plus 80 basis points, according to an FWP filed with the Securities and Exchange Commission.
The notes sold at the tight end of guidance set at 80 bps to 85 bps over Treasuries. Initial talk was set in the 95 bps area over Treasuries.
Pricing was at 99.916 to yield 2.418%.
Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC and Wells Fargo Securities LLC were the joint bookrunners.
Proceeds from the offering will be used to repay commercial paper.
The holding company for utility subsidiaries is based in San Diego.
| Issuer: | Sempra Energy
|
| Amount: | $500 million
|
| Description: | Senior notes
|
| Maturity: | March 15, 2020
|
| Bookrunners: | Deutsche Bank Securities Inc., Goldman Sachs & Co., J.P. Morgan Securities LLC, Wells Fargo Securities LLC
|
| Co-managers: | BBVA Securities Inc., SG Americans Securities LLC
|
| Coupon: | 2.4%
|
| Price: | 99.916
|
| Yield: | 2.418%
|
| Spread: | 80 bps over Treasuries
|
| Trade date: | March 10
|
| Settlement date: | March 13
|
| Make-whole call: | 15 bps over Treasuries prior to Feb. 15, 2020, then callable at par
|
| Ratings: | Moody’s: Baa1
|
| Standard & Poor’s: BBB+
|
| Fitch: BBB+
|
| Distribution: | SEC registered
|
| Price talk: | 80 bps to 85 bps over Treasuries, tightened from 95 bps area
|
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