San Diego Gas & Electric to redeem bonds due 2027 with new bond sale

By Wendy Van Sickle

Columbus, Ohio, May 16 – San Diego Gas & Electric Co. plans to redeem $105 million of its outstanding 5% tax-exempt industrial development revenue bonds due 2027 with some proceeds of an offering of $500 million of series QQQ bonds due 2026, according to a 424B5 filing with the Securities and Exchange Commission.

The utility also plans to use the proceeds to repay about $200 million of its outstanding commercial paper bearing interest at 0.45% per annum or less and maturing at various dates this month and for other general corporate purposes.

The public utility is based in San Diego.

© 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.