Southern California Gas Co. Announces $500M 5.500% Bond Offering

What Happened

• Southern California Gas Company (an indirect subsidiary of Sempra) filed an 8-K reporting that on August 17, 2026 it entered into an underwriting agreement to issue $500,000,000 aggregate principal amount of 5.500% First Mortgage Bonds, Series GGG, due 2036.
• The bonds will be sold to underwriters led by Barclays Capital Inc., Credit Agricole Securities (USA) Inc., MUFG Securities Americas Inc. and TD Securities (USA) LLC in a registered public offering at a public offering price of 99.405% of par. The Underwriting Agreement is filed as Exhibit 1.1 to the 8-K.

Key Details

• Amount: $500,000,000 aggregate principal.
• Coupon/maturity: 5.500% interest, due 2036 (Series GGG).
• Offering price: 99.405% of principal.
• Date of agreement: August 17, 2026; 8-K filed August 18, 2026; offering under the company’s effective Form S-3 shelf (File No. 333-295219).

Why It Matters

• This transaction raises $500 million of long-term debt for Southern California Gas Company, increasing its outstanding indebtedness and adding fixed interest obligations (5.500% through 2036).
• The bonds are First Mortgage Bonds (secured by company property under the indenture), which is relevant to the company’s capital structure and creditor priority.
• The 8-K notes the Underwriting Agreement is filed and that the securities will only be offered by prospectus supplement and related prospectus; the filing does not specify the use of proceeds. Investors should watch related prospectus filings for offering timing, use of proceeds, and final terms.