Company: SREA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001032208-25-000048
Chunk: 48

Company: SEMPRA
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 48
---
 of our intent to pursue a process to sell a portion of our 70% equity interest in SI Partners. We extended the “right of first offer” process that is outlined in the limited partnership agreement and entered into a non-binding letter of intent with KKR Pinnacle. The letter of intent contemplates an equity sale of within or above 15% to 30% of SI Partners’ total outstanding interests, depending on valuation and other considerations. Subject to reaching agreement on acceptable pricing and other terms, securing required regulatory and other approvals, finalizing definitive contracts and other factors and considerations, we expect to complete the sale in the second or third quarter of 2026.

56

Table of Contents

NOTE 7. DEBT AND CREDIT FACILITIES

The principal terms of our debt arrangements are described below and in Note 6 of the Notes to Consolidated Financial Statements in the Annual Report.SHORT-TERM DEBTCommitted Lines of CreditAt June 30, 2025, Sempra had an aggregate capacity of $9.9 billion under seven primary committed lines of credit, which provide liquidity and support our commercial paper programs. Because our commercial paper programs are supported by some of these lines of credit, we reflect the amount of commercial paper outstanding, before reductions of any unamortized discounts, and any letters of credit outstanding as a reduction to the available unused credit capacity in the following table.COMMITTED LINES OF CREDIT(Dollars in millions)June 30, 2025BorrowerExpiration date of facilityTotal facilityCommercial paper outstandingAmounts outstandingLetters of credit outstandingAvailable unused creditSempraOctober 2029$4,000 $(1,228)$— $— $2,772 SDG&EOctober 20291,500 — — — 1,500 SoCalGasOctober 20291,200 (211)— — 989 SI Partners and IEnovaSeptember 2025500 — (286)— 214 SI Partners and IEnovaAugust 20261,000 — — — 1,000 SI Partners and IEnovaAugust 20281,500 — (556)— 944 Port Arthur LNGMarch 2030200 — — (87)113 Total$9,900 $(1,439)$(842)$(87)$7,532 Sempra, SDG&E and SoCalGas each must maintain a ratio of indebtedness