Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 201

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 2
Chunk 201
---
 the total available on committed and uncommitted lines of credit that we discuss in Note 7 of the Notes to Condensed Consolidated Financial Statements. Because our commercial paper programs are supported by these lines, we reflect the amount of commercial paper outstanding and any letters of credit outstanding as a reduction to the available unused credit.

118

Short-Term Borrowings

We use short-term debt primarily to meet liquidity requirements, fund shareholder dividends, and temporarily finance capital expenditures or acquisitions. SDG&E and SoCalGas use short-term debt primarily to meet working capital needs or to help fund event-specific costs. Commercial paper, term loans and lines of credit were our primary sources of short-term debt funding in the first nine months of 2025.

We discuss our short-term debt activities in Note 7 of the Notes to Condensed Consolidated Financial Statements and below in “Sources and Uses of Cash.”

Long-Term Debt Activities

Significant issuances of and payments on long-term debt in the first nine months of 2025 included the following:

LONG-TERM DEBT ISSUANCES AND PAYMENTS(Dollars in millions)Issuances:Amount at issuanceMaturitySempra 6.375% junior subordinated notes$800 2056SDG&E 5.40% first mortgage bonds850 2035SoCalGas 5.45% first mortgage bonds600 2035SoCalGas 6.00% first mortgage bonds500 2055Sempra Infrastructure variable rate notes (ECA LNG Phase 1 project)392 2027Sempra Infrastructure variable rate term loan (PA LNG Phase 1 project)2,130 2030Sempra Infrastructure 6.27% senior secured notes (PA LNG Phase 1 project)750 2042Sempra Infrastructure 6.32% senior secured notes (PA LNG Phase 1 project)250 2042Payments:PaymentsMaturitySoCalGas 3.20% first mortgage bonds$350 2025Sempra 3.30% notes750 2025Sempra Infrastructure variable rate notes (ECA LNG Phase 1 project)236 2027Sempra Infrastructure variable rate term loan (PA LNG Phase 1 project)983 2030Sempra Infrastructure loan at variable rates (4.03% after floating-to-fixed rate swap effective 2019) payable June 15, 2022 through November 19, 203425 2034

We discuss our long-term debt activities, including the use of proceeds on long-term debt