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SoCalGas closes offering of $650M first mortgage bonds

Southern California Gas Co. closed a public offering of $650 million of 2.550% first mortgage bonds due 2030.

The Sempra Energy utility plans to use the proceeds to repay outstanding commercial paper. The securities are rated Aa2 by Moody's and A+ by S&P Global Ratings.

Crédit Agricole Securities (USA) Inc., Mizuho Securities USA LLC, Scotia Capital (USA) Inc., U.S. Bancorp Investments Inc. and Academy Securities Inc. acted as book managers. BBVA Securities Inc., Blaylock Van LLC and R. Seelaus & Co. LLC acted as co-managers.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.