Southern California Gas Co. Issues $250 Million Of First-Mortgage Bonds
Southern California Gas Co. Issues $250 Million Of First-Mortgage Bonds
Dec 15, 2003
The new bonds have an interest rate of 4.375 percent, with a stated maturity date of Jan. 15, 2011. The proceeds of the bonds will be used to retire debt and for general corporate purposes.
The lead underwriter for these bonds is Merrill Lynch & Co.; co-managers are A.G. Edwards & Sons, Inc., Dresdner Kleinwort Wasserstein, KBC Financial Products, The Royal Bank of Scotland, Scotia Capital and UBS Investment Bank. The bonds are rated "A1" by Moody's Investors Service, "A+" by Standard & Poor's Corp., and "AA" by Fitch Ratings.
The Gas Company is the nation's largest natural gas distribution utility, providing safe and reliable energy to 19 million consumers through 5.4 million meters. The company's service territory encompasses 23,000 square miles in most of central and Southern California. The Gas Company is part of Sempra Energy Utilities, the umbrella for Sempra Energy's regulated California utilities. Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company.
