SOUTHERN CALIFORNIA GAS CO 8-K

What Happened
Southern California Gas Company (an indirect subsidiary of Sempra) announced on May 15, 2026 that it closed a public offering of $650,000,000 aggregate principal amount of its 5.900% First Mortgage Bonds, Series FFF, due June 1, 2056. The bonds were issued under a Supplemental Indenture dated May 15, 2026 and were registered under the company’s Form S-3. Proceeds to the company, after the underwriting discount but before other offering expenses (estimated at about $1.4 million), were 98.661% of the aggregate principal amount. Interest accrues from May 15, 2026 and is payable semiannually on June 1 and December 1, beginning December 1, 2026. The bonds are redeemable prior to maturity at the company’s option per the bond terms.

Key Details

• Offering size: $650,000,000 aggregate principal amount.
• Coupon and maturity: 5.900% per annum, due June 1, 2056.
• Issue price / proceeds: 98.661% of principal (after underwriting discount; other expenses ≈ $1.4M).
• Interest/payment: accrues from May 15, 2026; semiannual payments on June 1 and December 1 starting Dec 1, 2026.
• Documentation: Supplemental Indenture and form of bond filed as exhibits to the 8-K.

Why It Matters
This transaction increases Southern California Gas Co.’s long-term debt by $650 million and establishes a fixed-rate interest obligation for 30 years, which affects future interest expense and debt maturity profile. The bonds’ redemption feature gives the company flexibility to refinance or retire the debt before 2056 if market conditions change. Investors should note the material amount, fixed coupon, and payment schedule when assessing the company’s capital structure and near- to long-term cash obligations.