Sempra closes $1.25B offering of 6.400% junior subordinated notes due 2054

SEMPRA

Closed public offering of $1.25B aggregate principal amount of 6.400% Fixed-to-Fixed Reset Rate Junior Subordinated Notes due 2054.
Net proceeds approx. $1.238B after underwriting discounts; offering expenses estimated at ~$2.6M.
Interest rate 6.400% through Oct 1, 2034, then resets to Five-year U.S. Treasury Rate plus 2.632%.
Notes redeemable at par on or after Oct 1, 2034; optional interest deferral up to 20 semi-annual periods.
Underwriters: Barclays, BMO, CIBC, Citi, Santander, Wells Fargo.

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