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Sempra Energy closes $850M floating rate notes offering

Sempra Energy closed an offering for $850 million of its floating rate notes due March 15, 2021.

The net proceeds from the offering amounted to about $847 million after deducting underwriting discounts but before deducting estimated offering expenses payable by Sempra. The company intends to use proceeds from the offering for outstanding commercial paper repayment and for other general corporate purposes, according to a Form 8-K filed Oct. 13.

Interest on the notes will accrue from Oct. 13 and is payable March 15, June 15, Sept. 15 and Dec. 15 of each year, starting Dec. 15, 2017, and at maturity, subject to possible adjustments.

J.P. Morgan Securities LLC and Mizuho Securities USA LLC served as joint book-running managers.