Southern California Gas Company
$500 million First Mortgage Bonds
2.60% First Mortgage Bonds due 2026
Southern California Gas Co., a subsidiary of Sempra Energy, issued $500 million of 10-year first mortgage bonds on May 31, 2016. Siebert Cisneros Shank participated as a co-manager on the debt offering. The use of proceeds were used to repay approximately $200 million of the its outstanding commercial paper. Ultimately, initial price thoughts tightened by 17 basis points at pricing, with a total order book of over $1 billion. The trade settled on June 3, 2016, and spreads tightened further in the secondary market.