Company: SREA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001032208-25-000065
Chunk: 297

Company: SEMPRA
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 297
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 and IEnova amended their shared credit facility to extend the expiration date from September 2025 to September 2026.Sempra, SDG&E and SoCalGas each must maintain a ratio of indebtedness to total capitalization (as defined in each of the applicable credit facilities) of no more than 65% at the end of each quarter. At September 30, 2025, each Registrant was in compliance with this ratio under its respective credit facility.The three lines of credit that are shared by SI Partners and its subsidiary, IEnova, require that SI Partners maintain a ratio of consolidated adjusted net indebtedness to consolidated earnings before interest, taxes, depreciation and amortization (as defined in each credit facility) of no more than 5.25 to 1.00 at the end of each quarter. At September 30, 2025, SI Partners was in compliance with this ratio.In September 2025, Port Arthur LNG II entered into a working capital facility agreement, reflected in the table above, that permits borrowings of up to $300 million, which bear interest by reference to term SOFR, plus the applicable margin and a credit adjustment spread. The credit facility also provides for the issuance of up to $300 million of letters of credit, which reduces available unused credit. SI Partners has provided a guarantee for repayment of the $300 million credit facility supporting construction of the PA LNG Phase 2 project.Additionally, the three lines of credit that are shared by SI Partners and IEnova and the Port Arthur LNG I and Port Arthur LNG II credit facilities are included in the held for sale disposal group that we discuss in Note 6 but remain legally accessible and a source of available credit to Sempra Infrastructure until the sale of a portion of our equity interest in SI Partners closes.

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Uncommitted Line of CreditECA LNG Phase 1 has an uncommitted line of credit with an aggregate capacity of $100 million that expires in August 2026. Borrowings are generally used for working capital requirements and can be in U.S. dollars or Mexican pesos. At September 30, 2025, ECA LNG Phase 1 had outstanding borrowings of $10 million, before reductions of any unamortized discounts, in Mexican pesos that bear interest at a variable rate based on the 28-day Interbank Equilibrium Interest Rate plus 154 bps. Borrowings made in U.S. dollars bear interest at a variable rate based on the one-month or three-month SOFR plus