San Diego Gas & Electric to price first mortgage bonds due 2023

By Cristal Cody

Tupelo, Miss., Sept. 4 - San Diego Gas & Electric Co. intends to price an offering of series NNN first mortgage bonds due 2023, according to a filing with the Securities and Exchange Commission.

CastleOak Securities, LP, J.P. Morgan Securities LLC, RBS Securities Inc., BNP Paribas and US Bancorp are the joint bookrunners. C.L. King & Associates is the co-manager.

Proceeds will be used to redeem all $60 million of outstanding 5.85% series 1993A pollution control revenue bonds due 2021; $115.47 million of outstanding 5.9% series 1996A bonds due 2014; $81.5 million of outstanding shares of the company's cumulative preferred stock and preference stock; and for general working capital purposes.

The public utility serves San Diego and southern Orange counties.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.