Sempra Issues $1.25B in Junior Subordinated Notes
Ticker: SRE · Form: 8-K · Filed: 2025-02-20T00:00:00.000Z
Sentiment: neutral
Topics: debt-issuance, financing, notes
TL;DR
Sempra just dropped $1.25B in new debt, 5.75% notes due 2079. Watch that interest expense!
AI Summary
On February 20, 2025, Sempra filed an 8-K report detailing the issuance of $1.25 billion in 5.75% Junior Subordinated Notes due 2079. This filing also includes financial statements and exhibits related to the company's operations.
Why It Matters
This issuance of long-term debt by Sempra could impact its leverage ratios and future interest expenses, potentially affecting profitability and investment capacity.
Risk Assessment
Risk Level: medium — Issuing a significant amount of subordinated debt increases financial leverage and interest expense, which can pose risks if the company's earnings decline.
Key Numbers
- $1.25B — Junior Subordinated Notes (Amount issued to fund operations or refinance debt.)
- 5.75% — Interest Rate (Coupon rate on the newly issued notes.)
- 2079 — Maturity Date (Long-term nature of the debt obligation.)
Key Players & Entities
- Sempra (company) — Registrant
- 5.75% Junior Subordinated Notes due 2079 (dollar_amount) — Debt issuance
- $1.25 billion (dollar_amount) — Principal amount of notes
- February 20, 2025 (date) — Date of report
FAQ
What is the principal amount of the junior subordinated notes issued by Sempra?
Sempra issued $1.25 billion in 5.75% Junior Subordinated Notes due 2079.
What is the interest rate on these new notes?
The interest rate on the 5.75% Junior Subordinated Notes due 2079 is 5.75%.
When do these junior subordinated notes mature?
The Sempra 5.75% Junior Subordinated Notes issued on February 20, 2025, mature in the year 2079.
What is the purpose of this 8-K filing?
This 8-K filing reports on the issuance of the junior subordinated notes and includes related financial statements and exhibits.
What is Sempra's primary business as indicated by the filing?
Sempra is listed under the Standard Industrial Classification for 'GAS & OTHER SERVICES'.
From the Filing
0001032208-25-000006.txt : 20250220 0001032208-25-000006.hdr.sgml : 20250220 20250220164822 ACCESSION NUMBER: 0001032208-25-000006 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20250220 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20250220 DATE AS OF CHANGE: 20250220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SEMPRA CENTRAL INDEX KEY: 0001032208 STANDARD INDUSTRIAL CLASSIFICATION: GAS & OTHER SERVICES COMBINED [4932] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 330732627 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14201 FILM NUMBER: 25646222 BUSINESS ADDRESS: STREET 1: 488 8TH AVENUE CITY: SAN DIEGO STATE: CA ZIP: 92101 BUSINESS PHONE: 6196962000 MAIL ADDRESS: STREET 1: 488 8TH AVENUE CITY: SAN DIEGO STATE: CA ZIP: 92101 FORMER COMPANY: FORMER CONFORMED NAME: SEMPRA ENERGY DATE OF NAME CHANGE: 19980605 FORMER COMPANY: FORMER CONFORMED NAME: MINERAL ENERGY CO DATE OF NAME CHANGE: 19970205 8-K 1 sempra-20250220.htm 8-K sempra-20250220 0001032208 false 0001032208 2025-02-20 2025-02-20 0001032208 us-gaap:CommonStockMember 2025-02-20 2025-02-20 0001032208 sempra:Sempra5.75JuniorSubordinatedNotesDue2079Member 2025-02-20 2025-02-20 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 February 20, 2025 Date of Report (Date of earliest event reported) Sempra (Exact name of registrant as specified in its charter) California 1-14201 33-0732627 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 488 8th Avenue , San Diego , California 92101 (619) 696-2000 (Address of principal executive offices) (Zip Code) (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Title of Each Class Trading Symbol Name of Each Exchange on Which Registered Sempra Common Stock, without par value SRE New York Stock Exchange Sempra 5.75% Junior Subordinated Notes Due 2079, $25 par value SREA New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 8.01 Other Events. On February 20, 2025, the Compensation and Development Committee of the Sempra Board of Directors approved an amendment to the Severance Pay Agreement dated as of January 1, 2023 (the “Severance Pay Agreement”) of Jeffrey W. Martin, Chief Executive Officer, President and Chairman of Sempra, to reflect a change in his retirement age from 65 to 67. A copy of the amendment to the Severance Pay Agreement is attached hereto as Exhibit 10.1 . Mr. Martin remains an employee at will and does not have an employment agreement with Sempra. Item 9.01 Financial Statements and Exhibits. (d)