SEMPRA 8-K

What Happened

• On June 9, 2026, Sempra closed a public offering and sale of $1,000,000,000 aggregate principal amount of Floating Rate Notes due 2028. The notes were sold to underwriters led by BMO Capital Markets Corp. and Academy Securities, Inc. at 100.000% of principal. Proceeds to Sempra were approximately $998.5 million (after underwriting discount, before estimated offering expenses of about $1.7 million). The notes bear interest at Compounded SOFR plus 0.670% per annum, accrue from June 9, 2026, and mature on January 7, 2028.

Key Details

• Size: $1,000,000,000 principal; proceeds ≈ $998.5M to Sempra (before ~$1.7M expenses).
• Interest: floating rate = Compounded SOFR + 0.670% per annum; interest payable quarterly beginning October 7, 2026.
• Maturity and terms: due January 7, 2028; notes are not redeemable at Sempra’s option prior to maturity.
• Placement: sold under an underwriting agreement dated June 4, 2026, with BMO Capital Markets Corp. and Academy Securities, Inc.; issued under Sempra’s existing indenture.

Why It Matters

• This transaction increases Sempra’s near-term cash by roughly $998.5M (before expenses) while adding a short-term floating-rate liability that matures in early 2028.
• Because interest is tied to Compounded SOFR, coupon costs will vary with short-term rates; investors should note the variable-rate exposure and the relatively short maturity when assessing Sempra’s upcoming financing and interest expense profile.
• The notes are not callable by Sempra, meaning the company cannot redeem them before maturity, which fixes the repayment timing for this tranche of debt.