Convertibles Calendar: Sempra Energy to price

January 4

SEMPRA ENERGY

• $1.5 billion of series A mandatory convertible preferred stock due 2021

• $225 million over-allotment option

• Price talk for a dividend of 6% to 6.5% and an initial conversion premium of 17.5% to 22.5%

• Morgan Stanley, RBC Capital Markets, and Barclays

• Concurrent offering of $2.5 billion of common stock with a greenshoe of $375 million

• Proceeds will be used to help finance the pending acquisition of Energy Future Holdings Corp., which will include Energy Future Holdings Corp.’s indirect 80% ownership of Oncor Electric Delivery Company LLC.

• San Diego-based electricity and natural gas utility and infrastructure company

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