Southern California Gas talks $600 million three-, 10-year bonds; pricing Monday

By Aleesia Forni

Virginia Beach, June 15 – Southern California Gas Co. is in Monday’s market with a $600 million offering of first mortgage bonds in two tranches, according to a market source and a 424B5 filed with the Securities and Exchange Commission.

The sale includes $250 million of three-year first mortgage bonds, series QQ, talked in the 60 basis points area over Treasuries and $350 million of 10-year first mortgage bonds, series RR, talked in the 100 bps area over Treasuries.

Mizuho Securities, BNP Paribas Securities Corp., CastleOak Securities LP, Credit Agricole and UBS Securities LLC are the bookrunners.

Proceeds will be used to repay commercial paper and for general corporate purposes.

The natural gas distributor is based in Los Angeles.

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