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Get filing alertsSempra closes $1B floating-rate notes offering due 2028 at SOFR+67bp
Filed June 9, 2026 · Period ending June 4, 2026 · ~1 min read
Key Changes
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Raised $1 billion through public offering of floating-rate notes maturing January 7, 2028, priced at par with net proceeds of $998.5 million after underwriting discount.
Item 8.01 verify on EDGAR → -
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Notes bear interest at Compounded SOFR plus 0.670% per annum, paid quarterly beginning October 7, 2026. Interest expense will fluctuate with short-term rates.
Item 8.01 verify on EDGAR → -
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Notes are not redeemable prior to maturity, locking Sempra into the January 2028 maturity date regardless of future rate movements.
Item 8.01 verify on EDGAR →
Summary
Sempra completed a $1 billion debt offering of floating-rate notes due January 2028, priced at par with a spread of 67 basis points over Compounded SOFR. The company netted approximately $998.5 million after underwriting costs.
The floating-rate structure means Sempra's quarterly interest payments will move with short-term rates, providing some natural hedge if rates decline but exposing the company to higher costs if rates rise before maturity. This is a routine capital markets transaction for a large utility.
The two-year maturity and floating-rate structure suggest Sempra is managing near-term funding needs while maintaining flexibility around its rate exposure. The notes cannot be called early, so the company is committed to the 2028 maturity. For retail holders, this represents incremental leverage but at a modest scale relative to Sempra's size—the offering adds debt but does not materially alter the company's capital structure or financial risk profile.
Section-by-Section Diff
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
The notes will bear interest at a floating rate equal to Compounded SOFR (as defined in the notes) plus 0.670% per annum and mature on January 7, 2028. Interest on the notes will accrue from June 9, 2026 and will be payable quarterly in arrears on October 7, January 7, April 7 and July 7 of each year, beginning on October 7, 2026
The notes carry a floating interest rate of Compounded SOFR plus 67 basis points, paid quarterly. Interest accrues from the June 9, 2026 closing date with first payment on October 7, 2026. This floating-rate structure means Sempra's interest expense will fluctuate with short-term rates.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
The notes will not be redeemable at the Company’s option prior to maturity.
Sempra cannot call or redeem these notes early. The company is locked into the January 2028 maturity regardless of future interest rate movements or refinancing opportunities.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 7, 2026 · How we verify