Southern California Gas to issue floating-rate notes due 2023

Chicago, Sept. 14 – Southern California Gas Co. expects to sell floating-rate notes due 2023, according to a 424B5 filing with the Securities and Exchange Commission on Monday.

The notes cannot be redeemed until March 14, 2021. After that date, the company may redeem the notes at par plus interest to the redemption date.

Joint bookrunners for the offering are BMO Capital Markets Corp., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC.

Proceeds will be used to expand and improve the company’s utility plant, to refund and retire debt, for working capital and for other general corporate purposes.

The natural gas distributor is based in Los Angeles.

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