San Diego Gas & Electric issues $250 million of first-mortgage bonds

Media Contact:
Peter Hidalgo

Financial Contact:
Karen Sedgwick

San Diego Gas & Electric

Sempra Energy

(877) 866-2066

(877) 736-7727

www.sdge.com

investor@sempra.com

 

        SAN DIEGO, June 8, 2006 – San Diego Gas & Electric (SDG&E), a unit of Sempra Energy (NYSE: SRE), today closed a public offering of $250 million of 20-year First-Mortgage Bonds.

        The bonds have an interest rate of 6.0 percent, with a stated maturity date of June 1, 2026.  The proceeds of the bonds will be used to finance SDG&E’s capital- investment program.

 The joint lead managers for the bonds are Banc of America Securities LLC, BNP Paribas and RBS Greenwich Capital;  co-managers are Calyon Securities, HSBC and Loop Capital Markets.   The bonds are rated “A1” by Moody’s Investors Service, “A+” by Standard & Poor’s Corp., and “AA” by Fitch Ratings.

        SDG&E currently serves 3.4 million consumers through 1.3 million electric meters and more than 825,000 natural gas meters.  The utility’s service area spans 4,100 square miles and serves customers in more than 125 communities from Southern Orange County to the Mexican border.  SDG&E is a regulated subsidiary of Sempra Energy (NYSE:SRE).  Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company.  To learn more, go to www.sdge.com.

###

Category

San Diego Gas & Electric , Sempra Energy